FTI Touristik GmbH, the parent company of the FTI GROUP and the third largest travel company in Europe, will file an application for the opening of insolvency proceedings with the local Munich District Court on Monday, June 3, 2024. The company itself reports this in a press release. On the FTI Benelux sales Facebook page, questions were already asked this morning about a system failure at FTI. At the end of the morning, FTI responds with: ‘Unfortunately, we are currently dealing with a system failure that means that bookings cannot be made. We would therefore like to ask you to email your request to us via servicesupport@fti.nl so that we can help you as soon as the malfunction has been resolved.’ Text continues below the podcast. https://open.spotify.com/episode/5kOas2Dnctm4EyAE5pskDt?si=b03130dc8d504e1f The how and what for FTI’s team in the Netherlands is unclear. TravMagazine has reached out, but has not yet responded. “Initially, only the FTI Touristik brand was directly affected. Subsequently, however, similar applications will also be submitted for other group companies. Windrose Finest Travel GmbH with the luxury brand WINDROSE will continue its operations,” according to the FTI press release. “The independent companies Euvia GmbH and its travel shopping channel sonnenklar. TV as well as the franchise system of Touristik Vertriebsgesellschaft mbH (TVG) with its sonnenklar brands. TV Reisebüros, 5vorFlug Reisebüros and Flugbörse do not belong to the FTI GROUP.’ After a lengthy and complex investment process, the entry of a consortium of investors was announced in April 2024. Since then, however, booking figures have fallen well short of expectations despite the positive news. In addition, numerous suppliers have insisted on payment in advance. This created an increased need for liquidity, which could no longer be bridged until the completion of the investment process. The filing for bankruptcy has therefore become necessary for legal reasons. Supporting travellers impacted by the fallout from bankruptcy is now a top priority for the FTI GROUP. A support website has already been set up on www.fti-group.com/en/insolvency as well as a support hotline on +49 (0) 89 / 710 45 14 98. All relevant information can be found here and German and English-speaking contact persons are available for individual questions. In addition to its full focus on customer support, the FTI GROUP will keep its guests informed on a regular basis in cooperation with the German Travel Safety Fund (DRSF). We are currently working hard to ensure that trips that have already started can be completed as planned. Travel that has not yet started will probably no longer be possible or will only be partially possible from Tuesday, June 4, 2024. In collaboration with the (provisional) yet to be appointed insolvency manager, a concept will be developed in the coming days for the continuous provision of information to affected travellers and the operational implementation of the necessary measures.
