The recent bankruptcy of the German tour operator FTI has created substantial opportunities for last-minute travelers, according to recent reports. Now, it is possible to book last-minute vacations at unprecedentedly low prices more than ever.
Just a few weeks ago, FTI's bankruptcy caused a major disruption in the country's travel market. The resulting surplus capacity has led to significant price reductions, making last-minute vacations more affordable than ever before.
According to an article in Tagesspiegel, the biggest beneficiaries of FTI's bankruptcy are the last-minute travelers. The vast number of hotel rooms and airplane seats freed up by FTI's collapse have been quickly and cheaply acquired by other tour operators. Consequently, last-minute travelers are now able to purchase holidays at prices not seen in a long time. Reports indicate that holiday discounts of up to 60% are currently available in Germany.
TUI, which acquired 300,000 of FTI's capacity, is offering holiday packages this summer at discounts ranging from 20% to 30%. FTI's bankruptcy suggests that its €3 billion revenue will be redistributed among its competitors.
The opportunities are not limited to last-minute package tour customers; individual travelers are also finding bargains. One travel agent noted, "In many cases, prices are lower than they were six months ago."
