Companies of the FTI Group file for insolvency

MUNICH – FTI Touristik GmbH, the parent company of the FTI Group as the third largest tour operator in Europe, will file an application for the opening of insolvency proceedings at the Munich Local Court on Monday, 3 June 2024. Initially, only the tour operator brand FTI Touristik is directly affected by this. Subsequently, however, corresponding applications will also be filed for other Group companies. Windrose Finest Travel GmbH with the luxury brand WINDROSE will continue its business.

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 brands sonnenklar.TV Reisebüros, 5vorFlug Reisebüros and Flugbörse do not belong to the FTI Group.

After a lengthy and complex investor 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 advance payment. As a result, there was an increased need for liquidity, which could no longer be bridged until the closing of the investor process. The filing for insolvency has therefore become necessary for legal reasons.

Information for customers of the FTI Group

Supporting travelers affected by the consequences of the insolvency is now a top priority for the FTI GROUP. A support website has already been set up at fti-group.com/en/insolvency as well as a support hotline at +49 (0) 89 / 710 45 14 98. All relevant information can be accessed here and German- and English-speaking contact persons are available for individual questions. In addition to the full focus on customer support, the FTI GROUP will also keep its guests regularly informed together with the German Travel Security Fund (DRSF).

We are currently working hard to ensure that trips that have already started can be completed as planned. Trips that have not yet begun will probably no longer be possible or only partially possible from Tuesday, 4 June 2024. In cooperation with the (provisional) insolvency administrator yet to be appointed, a concept for the ongoing information of affected travelers and the operational implementation of the necessary measures will be developed in the coming days.

The article Companies of the FTI Group file for insolvency first appeared in TravelDailyNews International.