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Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Germany's FTI Files for Bankruptcy


Thu 06 Jun 2024 | 07:48 AM
FTI group
FTI group
Nada Mustafa

German travel group FTI announced that on June 3, it filed for bankruptcy.

This affects approximately 60,000 German tourists staying at various travel destinations worldwide through FTI bookings. This includes many German tourists in Egypt, especially families with children, staying primarily in the Red Sea and Sinai regions.

According to German regulations, FTI is insured against bankruptcy through the German Travel Insurance Fund (DRSF).This means that all costs for hotel services and transportation booked by German vacationers as part of their holiday package are protected by insurance and will be covered.

The German Travel Insurance Fund and a local partner company are currently working to ensure that trips that have already started can proceed without any issues.

Hotels and transportation companies will receive confirmed payment guarantees.

The German Embassy in Cairo is in close contact with the German Travel Insurance Fund, the Egyptian Ministry of Tourism and Antiquities, and other relevant Egyptian authorities to support the coordination of crisis management measures in this emergency situation.