FTI, a German travel group, declared bankruptcy on June 3.
This has an impact on approximately 60,000 German travelers who are currently traveling to a variety of destinations around the globe through FTI bookings. This encompasses a significant number of German visitors in Egypt, particularly families with children, who are predominantly residing in the Sinai and Red Sea regions.
German regulations mandate that the German Travel Insurance Fund (DRSF) insure FTI against bankruptcy.This entails that all expenses associated with hotel services and transportation that German vacationers reserve as part of their holiday package are insured and will be protected.
Currently, the German Travel Insurance Fund and a local partner company are collaborating to guarantee that journeys that have already commenced can continue without any complications.
Payment guarantees will be confirmed for hotels and transportation companies.
The German Embassy in Cairo is in close communication with the Egyptian Ministry of Tourism and Antiquities, the German Travel Insurance Fund, and other pertinent Egyptian authorities to facilitate the coordination of crisis management measures in this emergency situation.