Youtravel cancels more bookings as FTI crisis continues

The trade-only bed bank said it would extend the cancellation of bookings “up to and including the 14th of June 2024”. 

It added: “All active bookings will be cancelled with no cancellation charges by the end of the business day on Friday 7 June 2024.” Youtravel had already cancelled bookings from 4-11 June following the insolvency filing.

FTI, Europe’s third-biggest operator, began insolvency proceedings on 3 June in Munich.

The filing has led to incidents in resorts where guests have been asked to pay hoteliers directly.

Youtravel said: “We are aware of situations where guests in destination are being asked to pay for their accommodation locally. 

“The FTI Touristik failure has resulted in an unprecedented issue in destination and in these instances, we are trying to support where possible by sharing as much information as we can to help our partners resolve the issue for your valued guests.” 

Youtravel apologised to customers but said it remained positive “whilst our management team reviews different options to take our business forward”.

An agents’ help desk has been set up. Agents can email escalations@youtravel.com or call +44 208 588 9914 option 0 then option 1.

Youtravel added: “We would also like to express our gratitude for the overwhelming support and kind words received from partners worldwide, which are greatly appreciated by the entire team navigating through these challenging times. Further updates will be shared in the near future.”

FTI’s collapse, which occurred with 60,000 passengers travelling to destinations, followed a €125 million injection from an investor consortium led by Certares in April, but the company said booking levels since then had “fallen well short of expectations”.