Viennese travel company DTA Touristik reports bankruptcy - 45 creditors affected!

The travel industry in Austria and Germany is shaken by severe turbulence. The Wiener Travel Agency DTA Touristik GmbH has currently registered bankruptcy and has initiated a renovation process without self -administration. The company, which specializes in trips to Turkey, Greece and Egypt, struggles with debts of 2.5 million euros. This results in a dramatic situation for 45 creditors who have to expect a share of 20 percent within two years. According to kosmo.at , similar companies have been affected by insolvencies.

In Germany, the Munich District Court opened insolvency proceedings on the assets of FTI Touristik GmbH and Bigxtra Touristik GmbH on September 1, 2024. The insolvency administrator Axel Bierbach confirmed that both companies had to hire their business for over -indebtedness. Around 700 employees are affected. Despite the challenges, jobs have already been secured. More than 320 employees have found new jobs, while the insolvency administrator continues to work on the recovery of company investments. This procedure could help save several hundred jobs within the FTI Group, as reported by zri-online.de

future of the travel industry uncertain

The insolvency administrator said that due to the financial difficulties, the business operations as a whole were not possible. The focus is also on the sale and restructuring of other hotel companies in order to restore the financial resources of the companies concerned. For the more than 60,000 vacationers who were in the target areas at the time of bankruptcy registration, an immediate return action could be avoided, which indicates that continuous support from the FTI and their partners was possible.

The heavy location of these travel companies reflects the challenges with which the entire industry is faced, especially at a time when it recovers the aftermath of the COVID 19 pandemic. The bankruptcy of DTA Touristik and the simultaneous difficulties of the FTI Group underline the uncertainties that are associated with bankruptcy for many creditors and employees.