European charter airlines operating out of Germany, Austria, and the Netherlands will be counting the costs after Germany’s FTI Touristik GmbH, parent of Europe’s third largest tour operator FTI Group, announced it had filed for bankruptcy on June 3 at the District Court of Munich.

In a statement, the company said only the tour operator brand FTI Touristik would be directly affected immediately. However, additional bankruptcy applications will be filed subsequently by other firms in the group.

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Source: ch aviation
Read more: Airlines hit as Germany's FTI Touristik files for bankruptcy