Urgent travel warning as many holidays “no longer possible”

UK holidaymakers have been told their vacations may be cancelled after a tour operator went bust.

Earlier this week, FTI Group, Europe’s largest tour operator, has filed for insolvency. Hotels owned by Labranda have also been affected, with the website currently down.

A statement from FTI Group said: “After a lengthy and complex investor process, the entry of a consortium of investors was announced in April 2024. Since then, however, booking figures have fallen well short of expectations despite the positive news. In addition, numerous suppliers have insisted on advance payment.

READ MORE: Wirral’s best-kept secret is a tiny restaurant hidden inside a barn

READ MORE: I stayed in the real-life City of Dreams where guests are treated like royalty

“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.

FTI Group added it will have to either cancel or only partially complete all trips from now going forward, potentially impacting thousands of customers at the start of the busy summer holiday season.

The operator confirmed that while services booked with third-party providers, such as TUI and Alltours, are not affected by the insolvency proceedings, services owned by the brand booked through retail travel agencies or online travel agents will be impacted.

Receive top stories on everything going on in Merseyside including events, shopping and food and drink through our newsletter by signing up here