Published on August 11, 2024, 18:25 / ©Montage: Canva
Thanks to the refund following the FTI bankruptcy, those affected will receive thousands of euros back.
Thanks to the refund following the FTI bankruptcy, those affected will receive thousands of euros back.
The FTI bankruptcy made numerous headlines: many people’s vacation plans were ruined, trips were canceled and tourists abroad feared they would not be able to return home. Refunds were promised, but when will the money arrive?
by Sabrina Tischler
3 minutes reading time(623 words)
It was June 3rd when FTI Touristik GmbH, the third largest tour operator in Europe, filed for bankruptcy. The bankruptcy so shortly before the main holiday season affected thousands of people. Most trips had already been booked and many holidaymakers were already abroad. For them, the bankruptcy became a problem: Due to the insolvency, all trips booked through the FTI Group companies were cancelled or canceled.
Travelers feared returning home
In the event that the travellers were already in the holiday area, the statutory insurance protection provided by the German Travel Security Fund (DRSF)Together with the DRSF, the FTI Group worked hard to ensure that the trip could be completed as planned. If this was not possible, a return trip was organized. Those affected were contacted directly.
Tens of thousands affected
It is hard to imagine the extent of this bankruptcy: In a press release, the DRSF spoke of over 215,000 canceled package tours and 60,000 vacationers who were already in the destination at the time of the insolvency. For trips from June 3rd, the DSRF drew up a cost-assurance declaration that could be submitted to the hoteliers. However, some people who had already started their trip before June 3rd, 2024, often had to pay for hotels and other expenses out of their own pocket due to the insolvency. FTI Group In such cases, it was recommended to make payments with invoices and receipts. The DRSF would then contact those affected, it was said at the time.
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Over one hundred million euros
All these costs now had to be reimbursed. “The reimbursement volume amounts to a mid-three-digit million amount,” says Ali Arnoutone of the two managing directors of the DRSF. The individual trips involve amounts of thousands of euros. Those affected have been waiting for their money since June, and now the long wait is over. A few days ago, the DRSF namely the reimbursement process started. The people will be reimbursed the travel price they paid.
Emails are pouring in
“In a first step, consumers who have at least two authentication factors, such as an email address and cell phone number, will receive an email from the DRSF,” says a press release. These were sent from Thursday, August 8th. “The link in this email takes travelers to an online portal where they can request a refund of the payments made towards the travel price.”
Didn’t get an email?
However, some of those affected do not receive an email. The DRSF does not contact fellow travelers separately, as only one reimbursement application is provided for each trip. In such cases, however, a power of attorney must be signed. The DRSF explains: “For trips in which at least two people are to participate, powers of attorney from all fellow travelers are also required. The DRSF provides a corresponding form for this.”
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Set up two-factor authentication
There is another group of people who are not contacted via email. The reason: the DRSF does not have complete contact details. All of those “will be given the opportunity to register for the reimbursement process and submit the necessary data in a separate procedure.” A letter will be sent to them so that they can then carry out the necessary two-factor authentication.
These documents are required
What is needed for the refund? Firstly, as explained above, some have to set up two-factor authentication. Secondly, the following documents are required: the booking confirmation from FTI Touristik GmbH or BigXtra Touristik GmbH, all proof of payments made towards the travel price and the security certificate issued by the DRSF. “If the DRSF requires further documents based on your individual booking/travel profile, it will inform you of this at the start of the refund process,” explains the FTI Group. If you have any questions, we recommend contacting the DRSF hotline on +49 30 78954770.
Frequently asked questions:
FTI bankruptcy: Will I get the money for my trip back?
Yes, a refund has been promised. Those affected should receive an email in the next few days.
When will I get my money?
It is not yet clear when the money will be paid out. What is certain, however, is that the reimbursement process has already started.
I didn’t receive an email about the FTI refund – why not?
Either you are listed as a fellow traveler, in which case the person in whose name the trip was booked will receive the email, or the DRSF does not have enough contact information for you. In this case, you will receive a letter explaining all further steps.
Which bookings are affected?
In general, all services booked with the travel provider FTI Touristik GmbH are affected. This includes the FTI brand in Germany, Austria, the Netherlands and France, the 5vorFlug brand in Germany, BigXtra Touristik GmbH and the rental vehicle brands DriveFTI, Cars & Camper and Meeting Point Rent-a-Car. Services booked by the above-mentioned operators are affected if they were booked through stationary travel agencies, on online booking platforms such as Check24, Ab-In-den-Urlaub, HolidayCheck etc. or on our own platforms (fti.de, fti.at, fti.ch, fti.nl, 5vorflug.de, drive.de, …). Services booked with third-party providers (such as TUI, Alltours, DERTOUR, vtours, …) that were booked via the portals of FTI Touristik GmbH or BigXtra Touristik GmbH and sonnenklar.TV are not affected.
How do I know if I am affected?
Those affected don’t actually have to do anything. They will be contacted by the DRSF or have already been contacted by the FTI Group. Otherwise, you can check whether your trip was booked through one of the service providers listed in the column “Which bookings are affected?”
