FTI, which is the third largest tourism operator in Germany with around 200 subsidiaries, shocked the leisure travel sector when went into liquidation on Monday. Photograph: Steve Parsons/PA Wire
The initial filing involved FTI’s tour operator brand, but it warned that “corresponding applications will be filed for other group companies”. The UK travel company LoveHolidays which does a significant amount of business in the Republic, posted an update on its website which said that “a very small portion of our customers’ accommodation arrangements will be affected. However, we’re working hard to honour these bookings with other suppliers to minimise disruption to any holidays.”
“We have been making payments direct to hotels where the hotel says they need payment from us or they seek payment direct from the customer,” he said.