Following the insolvency of FTI Touristik, holidaymakers who had purchased holidays to Maspalomas before the summer of 2024 are having problems receiving refunds from the German Travel Security Fund (DRSF). The consumer advice centre reports that the DRSF offers different possibilities to reach travellers travelling on package holidays. These include email, letter with PIN, online registration, contact via the insolvency administrator and post. Those affected must use these options to receive their refunds.
The proceedings began in September. The first refunds to affected customers began in August. At the first creditors' meeting in November, the insolvency administrator Axel Bierbach reported on the low chances of obtaining high refunds. It is now important to highlight the new contact channels introduced by the DSRF.
In summer 2024, the German Foreign Ministry said the travel insurance fund and tourism industry would be responsible for repatriating and supporting affected tourists, but would provide consular support if necessary to ensure a safe return. The government had been waiting for approval for a sale of receivables as the cheapest way to recover the funds before the company filed for bankruptcy, the spokesman said. FTI employed 11.000 people worldwide and offers travel to more than 40 destinations around the world, including through its 10.000 agency partners in Germany.
