Youtravel axes all bookings from 1 November onwards owing to FTI collapse
Ilaria Grasso MacolaTrade bed bank Youtravel has now axed all bookings for the foreseeable future after months of cancellations due to the collapse of parent FTI.
The company announced on Friday (25 October) that all bookings with travel dates from 1 November onwards would be cancelled, as no final decisions have been made regarding its future.
“We will provide further updates in the coming weeks as more information becomes available,” said Youtravel in a statement. “We sincerely appreciate your continued support and apologise for any inconvenience this may cause.”
In June, parent company FTI Touristik filed for bankruptcy despite receiving a €125 million (£104 million) investment from a consortium led by US private equity Certares just a few months prior.
“After a lengthy and complex investor process, the entry of a consortium of investors was announced in April 2024,” FTI, Europe’s third-biggest tour operator, said in June. “Since then, however, booking figures have fallen short of expectations despite the positive news.
“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.”
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Place of registration: England and Wales.
Company number 08723341.
Registered address: 6th Floor, 2 London Wall Place, London EC2Y 5AU
