A leading travel firm, Youtravel, has announced that all bookings up to and including 26 July will be cancelled. The company described the decision to extend cancellations beyond 5 July as ‘difficult’, as discussions to secure its future are ongoing.
Youtravel is a subsidiary of the German company FTI Group, whose tour operator brand, FTI Touristik, declared insolvency earlier this month. This could potentially disrupt the travel plans of thousands of UK holidaymakers who use products provided by the group.
The company confirmed that all active bookings for arrivals up to and including 26 July would be cancelled without charge by Monday 1 July. This leaves UK travel agents with just a few days to make alternative arrangements for travellers who have booked accommodation via Youtravel.
Any issues will be communicated to travellers by their respective booking agents in the coming days. FTI Touristik, one of Europe’s largest travel firms, filed for insolvency at the beginning of the month. Youtravel acknowledged that the impact on its business and operations had been “significant”, reports the Express.
In a statement, Youtravel expressed its gratitude to all its partners for their unwavering support and patience since the announcement on 3rd June 2024. “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.”
“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.”
Bookings from 27 July remain active and will be subject to the usual cancellation charges. “Our teams are fully operational, and our dedicated task force is here to provide support to our partners during this challenging period,” added Youtravel. It added: “Our teams are fully operational, and our dedicated taskforce is here to provide support to our partners during this challenging period. Alternatively, you can contact your account manager for any queries or concerns.
“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.”