FTI, one of Europe's top three tour operators based in Germany, has declared bankruptcy due to its low-price policy and flawed market strategy. This significant development has left the company with an estimated debt of 25-30 million euros in the Türliye market, according to Kaan Kavaloğlu, President of the Mediterranean Touristic Hoteliers and Operators Association (AKTOB).
Kavaloğlu assessed both the short and long-term impacts of FTI's bankruptcy, stating, "Our primary goal is to ensure that the guests who came to Türkiye through FTI can enjoy their vacations and return home without issues. FTI primarily brought German tourists to our country, but we also hosted British, Dutch, and French guests through its local Turkish subsidiary. The specifics of what the insurance process will cover are still unclear, leaving us in a state of uncertainty."
Kavaloğlu noted that around 400,000 bookings were made through FTI for the peak season. "FTI also made sales for the winter season, which could lead to further complications. One of our key objectives is to encourage tourists who booked with FTI and were left stranded by the bankruptcy to choose Turkey again. We have already initiated high-level discussions with various tour operators regarding this matter. The issue of insurance is crucial, and the German government needs to handle it with care. Although the situation is not as severe as the Thomas Cook collapse, it is still troubling. The company's debt in the Turkish market is approximately 25-30 million euros," he explained.
