Largest Tour Operator Files for Insolvency
FTI Group Seeks Fresh Capital to Implement Corporate Strategy
FTI Group, Europe's third-largest tour operator, has filed for insolvency in the Munich regional court to safeguard fresh capital to implement corporate strategy.
Key Points:
- FTI Group's parent company, FTI Touristik Germany, initiated the insolvency proceedings.
- The move aims to secure additional funds to support the company's strategic plans.
- FTI Group had previously reported a 10% increase in turnover to €4.1 billion in FY2023.
- A consortium led by Certares, a travel and tourism investment firm, has entered into exclusive negotiations to acquire FTI Group.
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