FTI files for insolvency
Hundreds of thousands of travelers affected
German Foreign Office promises support for stranded holidaymakers
German tour operator FTI, Europe's third-largest travel agency, has filed for insolvency, the company announced on Tuesday. The news has left hundreds of thousands of travelers with trips booked through FTI in limbo, and the German Foreign Office has said it will provide support to stranded holidaymakers.
FTI, which employs around 11,000 people, has been hit hard by the Covid-19 pandemic, which has caused a sharp decline in travel bookings. The company received a government bailout in 2020, but it was not enough to prevent it from filing for insolvency.
The German Foreign Office said it will work with other government agencies to help stranded holidaymakers. The office said it will provide information and assistance to travelers who need to rebook flights or find alternative accommodation.
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