The insolvent travel group FTI Touristik has cancelled all booked trips. This was announced by the provisional curator Axel Bierbach on Friday. This officially means that all trips that were planned from 6 July onwards will also be cancelled. As a result, a further 175,000 package holidays are affected. This is reported by German media on Friday on the basis of reports from the dpa news agency. The German Travel Insurance Fund (DRSF) would have been willing to settle the settlement of existing reimbursement claims with other tour operators. But in such a short time, no solution was found to take over the package holidays. Many other tour operators wouldn’t want to take any chances. In order to finally give FTI customers the necessary planning certainty before the start of the summer holidays and to enable them to rebook their trip directly with another provider, all remaining trips have now been cancelled. It concerns 175,000 package holidays and certain individual services that customers have booked before departure from 6 July through the insolvent companies FTI Touristik GmbH, BigXtra Touristik GmbH and through the sales brand 5vorFlug. With the cancellation of all package holidays, FTI’s travel agent partners can now offer alternative travel to their customers. The company has started informing customers, travel agencies, and hotels. Provisional curator Bierbach estimates the total volume of existing travel bookings to be in the triple digits in millions. All deposits of package travellers are reimbursed by the German Travel Insurance Fund. Every package traveller gets their money back. However, customers who have only booked individual services through FTI, such as flights, hotels and transfers, are not entitled to a refund of payments already made by the DRSF. FTI Touristik GmbH, the parent company of the FTI GROUP and the third-largest travel company in Europe, reported insolvency to the local Munich District Court on Monday, June 3. The company could no longer meet its financial obligations. Insolvency is generally the prelude to bankruptcy. (Photo Shutterstock).
