Youtravel cancels all bookings until July 5 following FTI insolvency

Youtravel cancels all bookings until July 5 following FTI insolvency

Trade-only bed bank says move will ‘give partners extended time to rebook’

Youtravel has cancelled all bookings until July 5 following the collapse of its German parent company.

The trade-only bed bank initially cancelled a week’s worth of bookings on June 3 after FTI Touristik GmbH filed for insolvency, before extending the cancellation period until June 14 after disclosing that some holidaymakers were being asked to pay for their accommodation in resorts.

The company has today announced a further extension to “give our partners extended time to rebook and in order to prevent further inconvenience”.

Youtravel said it would not take any action in its system until June 13 to allow its partners time to re-protect the booking.

“While discussions and negotiations are still ongoing to take our business forward, we have made the decision to cancel all bookings until July 5,” said Youtravel in a statement.

“Any bookings that are still active in the Youtravel system for arrivals up to and including July 5 will be automatically cancelled, with no cancellation charges by Thursday, June 13.

“Bookings from July 6 onwards will remain active at this time and will be subject to the cancellation charges as displayed.”

Youtravel apologised to its partners who have been affected by the insolvency of FTI Touristik and said it “understands this situation has caused inconvenience and uncertainty”.

People who require further assistance can email or call +44208 588 9914, it said.