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Youtravel cancels bookings amid FTI insolvency
B2B bed bank Youtravel.com has cancelled bookings for the next week and is seeking clarity over the insolvency of owner FTI Touristik.
Tour operator FTI Touristik, part of the FTI Group, filed for insolvency this week.
Youtravel.com is a separate entity, although it says the situation has left accommodation partners anxious.
“It is important to note that currently, only the tour operator brand FTI Touristik is directly affected by this situation.” Youtravel said in an update.
We are a separate entity and are actively working on determining the future course of action without the support of FTI Touristik GmbH.”
“We acknowledge that currently, this does not offer sufficient clarity to our partners.”
It is ‘committed to working diligently in the days ahead to support all our partners.’
With the current uncertainty, Youtravel has cancelled the next seven days of arrivals from today.
“Further updates to be communicated shortly.”
FTI is Europe’s third largest tour operator and insolvency proceedings only impact the FTI Touristik brand – for now.
It comes just weeks after FTI announced a €125 million cash injection from a consortium of investors.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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