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We-Flytour facing bankruptcy: What does this mean for your trip to Turkey?
We-Flytour files for bankruptcy and cancels trips until December 10th. Affected holidaymakers will receive refunds and support.
We-Flytour facing bankruptcy: What does this mean for your trip to Turkey?
Another shock for travelers! The tour operator We-Flytour from Heilbronn, which only became active on the market in 2023, has to file for bankruptcy. The provider, which specializes in trips to Turkey, has announced that it will submit a corresponding application to the district court. This was confirmed by the German Travel Insurance Fund (DRSF). Affected package travelers can hope for a refund, but the wait for compensation could be lengthy.
The bankruptcy does not only affect future bookings: We-Flytour has canceled all package tours that have not yet taken place up to and including December 10th. Around 1,500 travelers who are currently on vacation are also affected - many of them are enjoying their stay in Turkey, Egypt or Mallorca. The DRSF has assured that these travelers will be guaranteed a safe journey home or the continuation of their vacation. Payments already made will be refunded as soon as all return actions have been completed.
Causes of bankruptcy
The reasons for bankruptcy are alarming! We-Flytour struggled with a sudden withdrawal of its credit card service provider and the associated delays in switching to a new provider. The provider, Santander Bank and its subsidiary Getnet, have surprisingly withdrawn from the German market. This led to significant liquidity shortages, even though business was going well. The insolvency is not as serious as the FTI bankruptcy in June, but it shows once again how important it is to pay attention to a travel insurance certificate when booking a package holiday.
Insurance through the DRSF is mandatory for larger providers, but smaller operators such as We-Flytour can also obtain insurance. If you don't have a travel insurance certificate, you have to contact the insolvency administrator, which is often lengthy and frustrating. In the case of the FTI bankruptcy, the DRSF has already paid out 160 million euros in reimbursements, but many victims report difficulties in processing their applications.