FTI Touristik GmbH, the parent company of the FTI GROUP as the third largest tour operator in Europe, will file an application for the opening of insolvency proceedings at the Munich Local Court on Monday, 3 June 2024. Initially, only the tour operator brand FTI Touristik is directly affected by this. Subsequently, however, corresponding applications will also be filed for other Group companies. Windrose Finest Travel GmbH with the luxury brand WINDROSE will continue its business. The independent companies Euvia GmbH and its travel shopping channel sonnenklar.TV as well as the franchise system of Touristik Vertriebsgesellschaft mbH (TVG) with its brands sonnenklar.TV Reisebüros, 5vorFlug Reisebüros and Flugbörse do not belong to the FTI GROUP. After a lengthy and complex investor process, the entry of a consortium of investors was announced in April 2024. Since then, however, booking figures have fallen well short of expectations despite the positive news. In addition, numerous suppliers have insisted on advance payment. As a result, there was an increased need for liquidity, which could no longer be bridged until the closing of the investor process. The filing for insolvency has therefore become necessary for legal reasons. Information for customers of the FTI GROUP Supporting travelers affected by the consequences of the insolvency is now a top priority for the FTI GROUP. A support website has already been set up at www.fti-group.com/en/insolvency as well as a support hotline at +49 (0) 89 / 710 45 14 98. All relevant information can be accessed here and German- and English-speaking contact persons are available for individual questions. In addition to the full focus on customer support, the FTI GROUP will also keep its guests regularly informed together with …
Read More »RAKTDA and FTI Group sign MOU to strengthen air connectivity between Germany and the emirate
Ras Al Khaimah Tourism Development Authority (RAKTDA) and the FTI GROUP struck a new agreement that paves the way for the launch of twice-weekly flights from Munich to Ras Al Khaimah International Airport in the fourth quarter of this year. The agreement, which was signed by Raki Phillips, Chief Executive Officer of Ras Al Khaimah Tourism Development Authority and Ralph Schiller, CEO of the FTI GROUP ranked among the headline announcements on day one of the Arab Aviation Summit, which is currently being staged at Al Hamra International Exhibition & Conference Centre in Ras Al Khaimah. It will significantly expand air connectivity between Ras Al Khaimah and Germany, one of the emirate’s top five visitor source markets for many years. Germany ranks among the global tourism industry’s most important outbound source markets and is projected to account for almost 118 million travellers annually by 2024, according to a recent report published by GlobalData. “This agreement with the FTI GROUP marks a major milestone in Ras Al Khaimah’s tourism development strategy, as we look to drive inbound traffic from Germany, which counts among our fastest-growing visitor source markets,” commented Raki Phillips, Chief Executive Officer of Ras Al Khaimah Tourism Development Authority. “In 2022, we’ve experienced 81% growth in German visitors to Ras Al Khaimah compared to the previous year, and the addition of twice-weekly direct flights from Munich, one of the country’s most important aviation hubs, should see this number grow substantially. In fact, our robust relationships with all leading trade partners in Germany will all play a key role in reaching our target of 3 million visitors annually by 2030, while boosting tourism’s GDP contribution from 5% today to almost a third …
Read More »ADDH invests in FTI Group to promote Abu Dhabi tourism
Abu Dhabi Developmental Holding Company (ADDH) and FTI Group, formalised their intent to partner and boost visitor numbers to the emirate and cement Abu Dhabi’s position as a global tourism destination. Under the terms of the intent agreement, collaboration will focus on increasing the number of visitors to Abu Dhabi from key European markets, including the UK, France and Germany. ADDH is set to inject 100 million euros in FTI Group which will also help expand the firm’s worldwide business outreach and enhance its vertical integration strategy across key tourism segments including tour operation, destinations management, own content and distribution. In 2010, the firm established its flagship destination management company Meeting Point Tourism LLC in the UAE. Mohamed Al Suwaidi, CEO of ADDH, commented, “Our strategic partnership with FTI Group reflects our wider commitment, in alignment with the Abu Dhabi Government, to support the emirate’s ambition in the tourism sector. The collaboration will not only create more opportunities to enhance Abu Dhabi’s sustainable tourism sector, but it also aligns with our mandate to further develop sectors of Abu Dhabi’s non-oil economy.” Dietmar Gunz, CEO of FTI Group, said, “ADDH is an exciting partner for FTI group given its portfolio of hotels and presence in the exhibition, aviation, culture and media sectors, which will enable us to design a new class of exclusive holiday packages for the ultimate customer experience.” “Abu Dhabi is an increasingly growing tourism market and has been part of our company’s long-term expansion and consolidation strategy in the region. In the coming months, we will open our first fully serviced offices in Abu Dhabi – a clear indication of our commitment to the UAE capital,” Roula Jouny, …
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