A Major travel firm has been forced to cancel all bookings up until and including July 26 amid ongoing discussions about the company’s future. Youtravel, part of the German FTI Group, has entered difficulties following news that its sister company, FTI Touristik, one of Europe’s biggest holiday operators, entered into bankruptcy earlier this month.
The cancellations could spell disaster for thousands of British holidaymakers and wreak havoc as many UK travel agencies depend on the group’s services. Youtravel has announced that it will automatically cancel all current bookings for arrivals up until July 26 at no additional charge by July 1.
UK travel agents who have arranged accommodation through Youtravel for their clients are now scrambling to make alternative arrangements with only a few days’ notice. The company acknowledged the “significant” impact of these events on their business and operations.
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The firm said: “The insolvency of FTI Touristik GmbH has had a significant impact on Youtravel.com. Over the past three weeks, our management has been actively engaging with the appointed administrator of the FTI group and undergoing the MandA [mergers and acquisition] process to secure our future,” reports the Mirror.
Youtravel has announced the cancellation of all bookings up to and including July 26, 2024, as talks continue without a resolution. “Whilst we are hopeful for a positive conclusion to these talks soon, we have made the difficult decision to cancel all bookings until and including the 26th July 2024. We understand the inconvenience this may cause and sincerely apologise for any disruption. Any active bookings in the Youtravel system for arrivals up to and including 26 July will be automatically cancelled without any charges by Monday 1 July.”
The travel firm reassured that bookings from July 27 onwards are still valid, subject to standard cancellation fees. “Our teams are fully operational, and our dedicated task force is here to provide support to our partners during this challenging period. Alternatively, you can contact your account manager for any queries or concerns.”
Youtravel expressed thanks to its partners: “We will continue to keep you updated as soon as we have any further news regarding the future of Youtravel.com. We want to express our gratitude to all our partners for their unwavering support and patience since the [FTI] announcement on the 3 June.”
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