FTI bankruptcy: repaid almost 245 million euros to travelers!

FTI bankruptcy: repaid almost 245 million euros to travelers!

Almost a year after the bankruptcy of the Munich travel provider FTI Touristik GmbH, most affected package travelers have received their money back. The German travel security fund (DRSF) processed around 172,000 applications and paid a total of 245 million euros. These reimbursements primarily affect the package travelers who have booked their trips via FTI, 5vorflug or Bigxtra. In contrast, package tours, which were conveyed through third -party providers such as TUI or alltours

A total of 212,000 travelers were contacted for reimbursement options, although 34,000 did not look for contact with the DRSF. The DRSF points out that around 6,000 more complex applications are still being processed. The situation looks worse for other creditors of the company who represent over 73,000 creditors with almost one billion euros.

insolvency details and jobs

On June 3, 2024, FTI reported bankruptcy. In addition to FTI Touristik GmbH, several subsidiaries also applied for bankruptcy, including Bigxtra Touristik GmbH and FTI Voyages SAS, which hired the payments on June 10, 2024. The insolvency administrator Axel Bierbach expects that only a fraction of the claims will be paid and the satisfaction rate is in the single -digit percentage range. The bankruptcy proceedings are expected to last long, which is due to the complex group structures.

fti employed around 11,000 employees during his best times and had 110 domestic and foreign companies. So far, seven of the originally 54 hotels have been sold, and the sales process for two more hotels is running. It is expected that around 3,500 jobs can be saved through these sales, even if the amount of the proceeds from the sales is still unclear.

reimbursements and further information

For travelers who had booked individual trips, reimbursement claims for the insolvency table must be registered, as these are not secured by the DRSF. With additional payments from hotels or providers during a package tour, no payments may be requested, since FTI is the contractual partner.

For more information on FTI bankruptcy, those affected can visit the travelers concerned or contact FTI's emergency number. Receipers for payments made should be kept in order to be able to enforce claims against the DRSF.

Developments around FTI illustrate the challenges in the travel industry, especially in times of crisis. The reimbursements offer a ray of hope for many travelers, but the situation of the creditors remains tense and insecure.

For detailed information and current updates, visit Süddeutsche.de and Konschentrale.de .