Huge travel company goes bust leaving Brits facing summer holiday cancellations. Find out if YOU could be affected..
. The collapse of German company FTI could see Brits hit by holiday chaos READ MORE: Is this the UK's most OTT Airbnb? Inside Little Nan's coastal home By Esther Marshall Published: 06:11 EDT, 28 June 2024 | Updated: 06:11 EDT, 28 June 2024 e-mail View comments British tourists could be hit with holiday cancellations in July following the collapse earlier this month of one of Europe’s largest tour operators, FTI. It’s based in Germany , but Brits could be affected by the knock-on impact of it failing – because it owns a subsidiary called youtravel.
com, a middleman accommodation supplier, known as a ‘bed bank’, that UK online travel agents (OTAs), including Loveholidays, use to secure hotel rooms for customers. These OTAs match hotels booked through youtravel.com with flights, creating a package deal for their customers.
Youtravel.com announced initially that bookings up until June 11 were cancelled, leading to some UK travellers forced to pay twice for their rooms by hoteliers worried they wouldn’t receive the funds from the bed bank. Now, Youtravel.
com has announced that all bookings up until July 26 will be cancelled, potentially leading to yet more disruption. British tourists could be hit with holiday cancellations in July following the collapse earlier this month of one of Europe’s largest tour operators Those affected by the FTI collapse incl.
