The travel agency, FTI Touristik, recently announced the cancellation of all booked trips. This decision came after the creditors’ committee declared that all trips planned from July 6 onwards would be cancelled. Despite efforts from the German Travel Insurance Fund to settle reimbursement claims with other tour operators, no solution was found to take over the package tours. This led to the cancellation of 175,000 package tours and individual services booked through FTI Touristik GmbH, BigXtra Touristik GmbH, and the sales brand 5vorFlug.
FTI’s travel agency partners can now offer customers alternative trips as a result of the cancellations. The company has started informing customers, travel agencies, and hotels about the cancellations. The total volume of existing travel bookings is estimated to be in the high three-digit million amount. Deposits made by package holidaymakers will be refunded by the Travel Guarantee Fund, ensuring that every package holidaymaker will get their money back.
Customers who booked individual services like flights, hotels, and transfers through FTI are not entitled to a refund from the DRSF. However, the future of approximately 230 TVG travel agencies has been secured, with Raiffeisen Vertriebs GmbH taking over FTI’s share in the Touristik Vertriebsgesellschaft TVG.
In this situation, it is crucial for FTI customers to have planning security before starting their summer holidays so they can rebook their trips with other providers immediately. While this decision may cause inconvenience for many travellers, it is necessary to protect customers’ interests and ensure their refunds.
FTI Touristik had been operating in Germany for more than two decades before its recent bankruptcy announcement. Many customers had purchased package tours through FTI for their summer holidays without realising that they would face significant disruptions due to its financial difficulties.
The announcement has caused widespread panic among travellers who had planned their holidays around FTI’s packages. Some have expressed frustration at having to find new plans at short notice while others have expressed disappointment at not being able to use their pre-booked services such as flights and hotels.
However, despite these challenges, there are still plenty of opportunities for travellers who want to explore Germany during the summer months. Many other tour operators are offering competitive prices on packages that include flights, accommodation and activities in popular destinations across Germany.
As such, it is important for travellers affected by FTI’s cancellation announcements to stay informed about alternative options available in order to make informed decisions about their trip plans moving forward.
