FTI bankruptcy: Creditors are waiting for repayments for years!

FTI bankruptcy: Creditors are waiting for repayments for years!

Ägypten - The processing of the insolvent travel group FTI Group is progressing, but the process will take years. Insolvency administrator Axel Bierbach draws an interim balance sheet one year after the bankruptcy request. He reports on extensive sales that affect countless parts of the company and hotel companies. Around 3,500 jobs abroad were secured by these measures. The claims of the creditors add up to an amount of around 980 million euros.

The former third largest European travel group has tried to make the processing efficiently, as reported before 9 . The brands sold include FTI itself, flight exchange, drive.de, as well as the IT service provider Anixe in Poland and the luxury organizer Windrose. In addition, shares in the TVG Touristik sales company and the RT/Raiffeisen Touristik Group were broadcast. Several hundred jobs were thus preserved.

progress in the hotel sector

In the hotel area, numerous 54 FTI houses have already been sold or handed over. The sales extend over several countries, including Italy, Turkey, Greece, Croatia, Malta and Morocco. A solution is currently being expected for two FTI-own hotels in Egypt, while in Spain and Turkey, advanced talks run about leased houses that employ more than 2,000 employees.

The hotel companies continue the business stable and the employees remain in their positions. The empty complex Stella Canaris on Fuerteventura is expected to be used until 2026 or later. Despite the challenges of bankruptcy, around 800 former employees were able to find new jobs. Around 40 people are currently still working on the handling in the Munich headquarters.

creditor claims and repayment rates

The creditor of the FTI Group, a total of over 73,000, have registered claims of almost 980 million euros. The examination of these claims will extend over several years. A small repayment rate is to be expected, such as n-tv . By the end of 2025, creditors can register their claims without a post -registration fee, with 565 creditors already submitted by the number of 564 million euros by post and another 69,000 electronically over a good 276 million euros.

The German travel security fund (DRSF) plays an important role for the package travelers who were traveling during bankruptcy. Most of the around 60,000 travelers were able to end their vacation regularly. So far, DRSF has contacted 180,000 entitlements, received 125,000 applications and paid out about 50 million euros. Nevertheless, there are difficulties in some individual cases, especially when it comes to missing data in agencyinkasso bookings.

Overall, the location of the FTI Group shows how complex and lengthy the handling of a large company can be in the bankruptcy proceedings. The complete utilization of the assets and the final examination of the claims will take up for many years, whereby the final payment to the creditors can only take place after the proceedings.