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Munich. In just a few weeks, Germans will be starting the main travel season, with school vacations beginning on June 20 in Saxony, for example. Many have already booked their trip long ago - the anticipation is great and now this: the organizer gets into trouble.
Europe's third-largest travel group, FTI, is currently in the throes of bankruptcy and filed an application for insolvency proceedings at Munich Local Court on Monday.
What happens to my trip booked with FTI?
According to the company, trips that have not yet begun will probably no longer be possible or only partially possible from Tuesday (June 4). For customers of the company, a Information page has been set up. A free hotline can be reached by telephone on +49 89 710451498. However, the hotline was unavailable shortly after the insolvency was announced as the lines had collapsed. "Due to increased call volumes, we are currently unable to take all calls. We are working flat out to expand our capacity. If possible, please call us again at a later date," FTI announced on its website.
Which bookings and companies are affected?
According to the company, all services booked with FTI Touristik GmbH are affected by the insolvency. In Germany, this includes the brands FTI, 5vorFlug, BigXtra GmbH and the car rental brands DriveFTI and Cars and Camper. Their services could be booked in travel agencies, on online booking platforms such as Sonnenklar.tv, Check24, Ab-In-den-Urlaub, HolidayCheck or on fti.de.
The company informs that booked trips with third-party providers such as TUI, Alltours or Dertour are NOT affected if FTI Touristik GmbH has only acted as an agent and not as an organizer.
Why is FTI suddenly insolvent?
The future of the company, which had received a total of 595 million euros in state aid from the Economic Stabilization Fund (WSF) during the coronavirus crisis, actually seemed secure. A consortium led by the US financial investor Certares wanted to take over the FTI Group for one euro and inject 125 million euros of fresh capital into the company. Competition authorities still had to approve the deal.
However, according to the information provided, booking figures have recently fallen well short of expectations. "In addition, numerous suppliers 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," FTI announced. According to the "Handelsblatt", FTI is said to have had a short-term shortfall in cover in the double-digit million range. Following negotiations at the weekend, the federal government has rejected further aid for the company.
What about travel services that have already been paid for?
The good news for all those who have already paid travel money or all those who are already on vacation and are worried about the rest of their stay and their return transportation: "Like every German tour operator, FTI is only obliged to accept payments towards the travel price if the traveler is given a security certificate at the same time," says travel law expert Paul Degott. In the event of the tour operator's insolvency, the security certificate ensures that travelers are refunded the travel price they have paid.
This is when either travel services are canceled or payment requests are received from partners of the travel company. For example, if a local hotel no longer receives payments from the tour operator. As a rule, the package tour contract also includes the transportation of passengers. The organizer is then also responsible for the agreed return transport and accommodation.
Do I have the insurance certificate in my documents?
Paul Degott therefore advises that the first thing to do is to check whether you have received an insurance certificate with your travel confirmation, as is usually the case. This must describe the respective travel price insurance in the event of insolvency and name the insurance company with address and contact details. This is usually the German Travel Price Protection Fund (DRSF). Under certain circumstances, one of the insolvency insurers may also be named.
With this security certificate in hand, the consumer can be sure of getting the payments on the travel price back if the provider and, if applicable, its travel subsidiaries file for insolvency or declare insolvency at short notice and thus the booked trip is not carried out.
"Consumers who are already on an FTI vacation abroad - surprised by the insolvency of FTI - may have the problem that the hotelier demands an additional payment for the remaining vacation time because he no longer receives any money from FTI," says Degott. The airline could also refuse return transportation for the same reason.
The next step here would be to contact the insolvency insurance company. "They should be asked to ensure further accommodation and repatriation and either advance the corresponding costs or declare that they will reimburse the consumer immediately," explains the lawyer.
Does help also come from the state?
The Federal Foreign Office has promised support to holidaymakers affected by the FTI insolvency. A spokesperson said on Monday in Berlin that the Federal Foreign Office was also in close contact with the German Travel Association and the Travel Insurance Fund via its crisis team in order to gain an accurate picture of the situation. The German travel industry and the travel insurance fund would take care of the repatriation and support of the affected tourists.
The travel insurance fund has promised not to leave any package holidaymakers in destinations affected by the FTI insolvency out in the cold. If necessary, the diplomatic missions abroad would of course provide consular support to ensure the safe return of those affected. The crisis team will meet in the afternoon to discuss what the next steps could be. (SZ with dpa)
