FTI Touristik Group Declares Insolvency
Largest German Tour Operator Files for Bankruptcy
Obergesellschaft of FTI Group Faces Financial Difficulties
Munich, Germany - FTI Touristik GmbH, the parent company of the FTI Group, has filed for insolvency at the Munich District Court, marking the largest tour operator insolvency in German history.
The group, which employs around 10,000 people worldwide, has been struggling with financial difficulties for some time, particularly due to the impact of the COVID-19 pandemic on the travel industry.
FTI offered a wide range of travel products, including package holidays, last-minute deals, and Nile cruises. The company also operated in over 120 countries and had a strong presence in German-speaking markets.
The insolvency filing comes as a shock to the industry and consumers alike. It is currently unclear what the impact will be on upcoming bookings and existing customers.
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