The company announced on Friday (25 October) that all bookings with travel dates from 1 November onwards would be cancelled, as no final decisions have been made regarding its future.
“We will provide further updates in the coming weeks as more information becomes available,” said Youtravel in a statement. “We sincerely appreciate your continued support and apologise for any inconvenience this may cause.”
In June, parent company FTI Touristik filed for bankruptcy despite receiving a €125 million (£104 million) investment from a consortium led by US private equity Certares just a few months prior.
“After a lengthy and complex investor process, the entry of a consortium of investors was announced in April 2024,” FTI, Europe’s third-biggest tour operator, said in June. “Since then, however, booking figures have fallen short of expectations despite the positive news.
“As a result there was an increased need for liquidity which could no longer be bridged until the closing of the investor process. The filing for insolvency has therefore become necessary for legal reasons.”
