Europe’s third largest Tour Operator “FTI Touristik” has declared bankruptcy upsetting the plans of thousands of travelers, with scheduled trips expected to be either canceled or partly suspended as early as tomorrow, Tuesday, June 4.
According to sources, the German-based company has reportedly settled any outstanding debts to nearly all its client hotels in Crete, while market pundits estimate the Tour Operator still owes approximately 2 million euros to hotels in the rest of the country.
FTI Touristik GmbH, the parent company of FTI Group, filed for insolvency with the Munich District Court. The company in its statement said trips scheduled to start from tomorrow, Tuesday, June 4, are likely to be canceled or only partially…
