FTI Group Faces Financial Challenges
Collapse Rumors Unconfirmed
The FTI Group, Europe's third-largest tour operator, is reportedly facing significant financial pressure. The company has been placed under a protective umbrella proceeding (Schutzschirmverfahren), a special procedure under German insolvency law.
The protective proceeding allows a company to restructure while continuing to operate. However, it remains unclear whether FTI will be able to overcome its financial difficulties and avoid insolvency.
Customer Protection Measures in Place
FTI Group has assured customers that their bookings are protected by the DRSF (Deutscher Reiseverbund), a travel protection fund in Germany. This means that customers will not lose their money if FTI becomes insolvent.
Cautious Approach Advised
While FTI Group has taken steps to protect customers, it is advisable to exercise caution when making new bookings. Customers should consider purchasing travel insurance and paying for their trips with a credit card that offers purchase protection. By taking these precautions, customers can minimize the risk of losing money in the event of an FTI Group insolvency.
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