A leading travel firm has declared that all reservations up to and including July 26 are to be axed after going bust.
Holiday accommodation provider Youtravel, described the decision to extend cancellations beyond July 5 as “difficult”, as negotiations to secure its future are ongoing, reports the Express.
Youtravel is a subsidiary of the German company FTI Group, whose tour operator brand FTI Touristik recently filed for insolvency. This could potentially disrupt the plans of thousands of travellers, as many UK travel agents book accommodations – mainly hotels and resorts – through the company.
The company confirmed that all active bookings for arrivals up to and including July 26 would be cancelled without charge by Monday July, 1. This leaves agents holding packages for UK travellers with accommodation booked via Youtravel just days to act.
If there are any complications, travellers will be informed over the next few days by those they booked the holiday with.
FTI Touristik, a European travel giant and one of the continent’s largest travel firms, filed for insolvency at the beginning of the month. Youtravel stated that the impact on its business and operations had been “significant”.
In a statement, Youtravel expressed: “We want to express our gratitude to all our partners for their unwavering support and patience since the announcement on the 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 apologize 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.
“Our teams are fully operational, and our dedicated task force is here to provide support to our partners during this challenging period,” added Youtravel.
“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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