Six weeks after the bankruptcy of the German tour operator FTI and its Austrian subsidiary, affected customers can now expect compensation soon. The German Travel Insurance Fund, which also covers package tours booked through the Austrian subsidiary, will start the reimbursement process “shortly,” a spokeswoman explained on Monday. This involves more than 250,000 canceled package tours.
- Read here: Travel group Tui benefits from FTI bankruptcy
The spokeswoman did not give an exact date for the start of payments. The specialist portal “fvw.de” had previously reported that it was expected that the reimbursement options would be activated during the course of this week.
FTI, previously the third largest German tour operator after Tui and DER Touristik, filed for bankruptcy at the beginning of June and shortly afterwards canceled all trips that had already been booked. Payments already made for package tours are insured against the tour operator’s insolvency through the German Travel Insurance Fund. The protection does not apply to individually booked travel components such as pure hotel bookings.
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