FTI insolvency: test of patience for customers when it comes to refunds

Insolvency (Photo: Pixabay/Ratfink1973).
Insolvency (Photo: Pixabay/Ratfink1973).

FTI insolvency: test of patience for customers when it comes to refunds

Insolvency (Photo: Pixabay/Ratfink1973).
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The insolvency of the FTI Group has triggered a wave of uncertainty and delays for thousands of customers who have had to cancel their booked package holidays. However, the German Travel Insurance Fund (DRSF), which is responsible for covering such cases, cannot yet give a specific date when the first refunds will be made. The DRSF told Handelsblatt this and stressed that it would first have to wait for the extensive travel data to be transmitted by FTI before preparations for the refund process can begin.

The challenge lies in dealing with the data from around 175.000 cancelled package tours, which will take time. A specially set up website of the Travel Insurance Fund visualizes the process from determining liability to support in the travel areas to the actual payment of reimbursements.

A key issue remains the lack of a concrete timeframe from the DRSF, which stresses that preparing the reimbursement process is currently the highest priority. This is unlikely to reassure customers waiting for their payments to be reimbursed, even though direct support on the ground is gradually decreasing.

The FTI Group itself, which is affected by the insolvency with its subsidiaries such as FTI Touristik GmbH and Big Xtra Touristik GmbH, remains cautious in its forecast for the duration of reimbursement. In the FAQs on its website, it appeals to customers to understand the complex cooperation with the provisional insolvency administrator and other parties who have to prepare the reimbursements.

The situation shows the complexity and hurdles that both customers and the companies involved face when it comes to dealing with insolvency cases in the travel industry. While the legal and organizational steps are being taken, the affected customers are left with uncertainty about the timely repayment of their already paid travel costs.

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