05/06/2024 08:59
Affected customers of tour operator FTI are advised to follow the announcements of the group and their government agencies, the Deputy Ministry of Tourism said in an announcement on Tuesday.
The Deputy Ministry notes that, in cooperation with the tourism industry bodies and the affected businesses, it is monitoring and evaluating the situation arising in the tourism industry from the bankruptcy of German tour operator FTI.
"This is a large and historic tourism group, which yesterday filed an insolvency petition with the German authorities as a result of the financial losses it has suffered in recent years," the announcement notes.
According to the Deputy Ministry, from the available data it appears that there are currently 906 visitors in Cyprus, customers of the FTI Group companies, mainly from Germany and Austria. The stay of all the affected visitors continues unhindered, while no problem arises regarding their repatriation after the end of their holidays, the Deputy Ministry underlines.
"Affected customers of Tour Operator "FTI" are advised to consult the announcements of both the "FTI" Group itself and their government services regarding the compensation procedures from available Insolvency Funds in their countries of residence and the re-scheduling of their reservations," the statement said.
Although the bankruptcy of this particular Tour Operator is a negative development for the country's tourism, as it is a continuation of other negative international developments, the Deputy Ministry notes that the impact is not expected to be particularly significant, given the extent of its presence in the Cypriot tourism market. However, it states that it is certainly "a serious loss for the hotel businesses that had been working with this particular Tour Operator."
The Deputy Ministry of Tourism notes that it continues to assess the situation and will take all appropriate actions to minimize any impact.