FTI Touristik GmbH files for Insolvency
Parent Company of FTI Group Affected
The FTI Touristik GmbH, a subsidiary of the Munich-based FTI Group, has become the first entity of the company to file for insolvency.
Financial Challenges in the Travel Sector
The travel industry has been severely impacted by the COVID-19 pandemic, and FTI Group, with approximately 11,000 employees, has borne the brunt of this downturn.
Insolvency Filing and Travel Cancellations
On Monday, FTI Touristik GmbH, the parent company of FTI Group, filed for insolvency at the Munich District Court. Subsequently, all planned vacations have been terminated.
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