Thousands of travellers are likely to be affected as a number of package holidays are cancelled or cut short.
ADVERTISEMENTFTI Group, one of Europe’s biggest tour companies, has filed for insolvency.
The Munich-based business, which has recently been hit by a number of problems including poor bookings said in a press release: “After a lengthy and complex investor process, the entry of a consortium of investors was announced in April 2024. Since then, however, booking figures have fallen well short of expectations despite the positive news.
“In addition, numerous suppliers have 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…
