FTI Touristik GmbH declared bankruptcy on June 3. The Swiss subsidiary of FTI Touristik GmbH, FTI Touristik AG, is currently not affected by the insolvency. When it comes to the question of how to proceed with a booked trip via the above provider, the decisive factor is who is the contractual partner of the booked trip. We explain the legal situation below. You can find more information here: Customer information on bankruptcy (fti-group.com).
Will the travel package you booked and paid for with FTI Touristik GmbH as the travel provider still take place?
It is best to check with the individual service providers involved (hotel, airline, etc.) whether a transaction for the booking amount has been made. If this is the case, your trip should be able to go ahead.
You booked a travel package and are already on vacation. Now your return flight, which was arranged by FTI Touristik GmbH, has been canceled. What are your rights?
Here too, it is advisable to first contact the airline in question to check the booking status. If the flight has not been booked or has been canceled, you will need to book a new flight yourself.
You are already on vacation and the local hotel requires you to pay (again) for the accommodation service provided by FTI Touristik GmbH. What are your rights?
As FTI Touristik GmbH itself acts as a travel company, you as the customer bear the risk of double payment. You can then try to recover the money from FTI Touristik GmbH via insolvency protection or in the bankruptcy proceedings yourself. However, if the tour operator does not provide customer money protection, you may not receive any or only a share of the proceeds of the bankruptcy proceedings if you file a claim.
How can you tell whether your tour operator has taken out insolvency insurance?
As a package traveler, you will receive a so-called insurance certificate together with your travel documents. This insurance certificate is valid for you as well as all other travel participants. This certificate serves as proof that the tour operator has entered into a contractual agreement with an insurer. If you have an insurance certificate, you have a direct claim against the insurer named in the insurance certificate in the event of insolvency. The contact details of the insurer can be found on the insurance certificate.
You booked a travel package and are now stranded abroad because your flight has been canceled. What assistance can you expect from the government or an industry fund with regard to your return flight?
The tour operator is obligated to organize a replacement flight for package tours. However, due to the circumstances, FTI Touristik GmbH will not provide this service. Swiss tourists abroad are therefore advised to book a return flight at their own expense if there is an urgent need to do so.
Can't you simply cancel the booking if it was paid for by credit card?
It cannot be ruled out that your credit card company will credit the booking amount back to you. The best thing to do is to contact them and find out about the conditions for revocation.
Does your private travel insurance cover financial losses resulting from the bankruptcy of FTI Touristik GmbH?
The insurance benefit depends on the applicable insurance conditions. We recommend that you report any financial loss to your travel insurance company. In some cases, travel insurance is also included through your credit card provider.
Have you booked a trip with FTI Touristik GmbH but haven’t paid for it yet. Do you still have to pay?
Due to the circumstances, it can generally be ruled out that the tour operator will be able to provide the contractually guaranteed service. For this reason, we advise against payment. In insolvency proceedings, any debtors will be contacted by the competent court.
Are you also covered if you have only booked a single service?
No, if you have only booked individual services with FTI, you are not protected by the statutory insurance coverage for package tours in the event of insolvency. You must assert your claim in the bankruptcy proceedings.
What is the procedure for bankruptcy in Germany?
Bankruptcy proceedings are a regulated process for settling the debts of an insolvent debtor. It begins with the filing of the application, followed by an examination by the court, the opening of the proceedings, the administration by the bankruptcy administrator and ends with the distribution of the assets and the termination of the proceedings. The aim is to satisfy the creditors in the best possible way and to enable the debtor to make an orderly new start.
How long do such processes take and will I really receive my claim amount?
However, such processes usually take a very long time. In addition, creditors are usually only satisfied to a limited extent. In insolvency proceedings in Germany that were opened in 2011 and concluded by the end of 2018, creditors only received an average of 3.8% of their claims.
What is the difference between a package tour and an individual service?
A package tour consists of at least two different travel services that are combined for the same trip, for example flight, meals, and accommodation. Individual services, on the other hand, are individual bookings such as a hotel, rental car, travel trailer, excursions, or airport transfers.