Youtravel, which operates as a commercial bed bank in the UK, supplies to tour operators and travel agencies. The company, which has direct agreements with over 27,000 hotels in 100 different countries, has stated that it remains unaffected by the insolvency.
Here is the statement issued by Youtravel:
"On the 3rd of June 2024, FTI Touristik GmbH, the parent company of the FTI GROUP and one of Europe's largest tour operators, has filed an application for insolvency proceedings.
It is important to note that currently, only the tour operator brand FTI Touristik is directly affected by this situation.
As for youtravel.com, we are a separate entity and are actively working on determining the future course of action without support of FTI Touristik GmbH.
We acknowledge that currently, this does not offer sufficient clarity to our esteemed partners.
This is an incredibly challenging time for our colleagues at FTI, and we are committed to working diligently in the days ahead to support all our partners.
By way of an update, due to the difficult situations in our DMC’s, we have taken the decision to cancel the next 7 days of arrivals from 4th June.
Further updates to be communicated shortly.
Thank you for your understanding and continued support."
