The bankrupt travel company FTI has canceled package holidays until July 5. The trips would be accompanied by too many uncertainties for holidaymakers, curator Axel Bierbach said on Friday.
In the meantime, negotiations continue with other tour operators about taking over the upcoming trips.
Competitors such as TUI, Dertour and Alltours sometimes offer bookings with flexible cancellation policies to win over FTI customers.
The gap will probably be closed soon
Some of them are already negotiating contracts with hoteliers to intervene for FTI. According to industry estimates, the gap left by the bankruptcy of Germany’s third-largest tourism group in its offering is likely to be closed quickly.
Guarantee fund helps customers
Meanwhile, in Switzerland, the Swiss Travel Industry Guarantee Fund is helping FTI customers. He voluntarily accepts payments from end customers to the Swiss FTI subsidiary FTI Touristik AG, even though it is not yet bankrupt.
The board of the guarantee fund has decided on this special arrangement to bridge the time between the bankruptcy of FTI Touristik GmbH in Germany on June 3, 2024 and a possible bankruptcy of FTI Touristik AG in Switzerland, the fund announced on Friday. . He wants to support customers in “these difficult, demanding and confusing times”.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
