FTI files for insolvency
Europe’s third-largest tour operator FTI Group filed for insolvency, as bookings continued to fall
German travel group FTI Touristik GmbH, the parent company of Europe's third-largest tour operator FTI Group, has filed for insolvency.
Key takeaways
- On Monday, the district court in the southern German city of Munich appointed the lawyer Axel Bierbach as provisional insolvency administrator for the parent company;
- Trips that have not yet begun will probably no longer be able to be carried out, or only partially, from June 4, the company said;
- According to the information provided, initially only the tour operator brand FTI Touristik will be directly affected by the insolvency application. Subsequently, however, corresponding applications will also be filed for other group companies.
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