Latest News

German tour huge TUI make money from FTI bankrupcy

Europe's biggest trip operator TUI has actually expanded its offering and seen a. rise in bookings after competitor FTI went bankrupt, TUI. Germany, one of the company's most significant branches said on Thursday.

TUI added some 300,000 extra areas for the existing. season after modifications in the German travel market, TUI said,. referring to the FTI insolvency.

Sinking bookings, along with early advance payment requests. drove Europe's third-largest tour firm FTI to apply for. bankruptcy in early June, as a last-minute buyout attempt failed. and the government refused to save the company.

TUI's shares rose 2% after the FTI insolvency announcement. on June 3.

FTI had to either cancel or complete countless journeys. starting from June 4, prompting holidaymakers to turn to. last-minute offers from TUI.

Spanish island Mallorca remains a top option for. German tourists, TUI said, followed by Turkish resort Antalya. and the Greek islands of Crete, Rhodes, and Kos.

TUI has likewise extended the summertime season to late November,. particularly in the Mediterranean area, as it anticipates greater. reservations as tourists look for to benefit from still-warm. temperature levels, however fewer crowds.

(source: Reuters)