The FTI Group from Munich had to be rescued by the state during the corona pandemic. picture alliance/dpa | Sven Hoppe
Europe’s third-largest travel company FTI likes to show sun, beaches and happy people in its advertising. But when you look at the company itself, shadows and worry lines predominate. The FTI Group has been considered a problem case economically for years. During the corona pandemic, when travel was not possible, the federal government ultimately had to help FTI with more than half a billion euros. FTI has been officially looking for an investor since last autumn, after speculation a year ago about a takeover by the Rewe subsidiary DER Touristik, one of the largest competitors.
Now new business figures show how dramatic the financial situation of the FTI Group actually was in the recent past. A few days ago, the group published the financial statements for the financial year from November 1, 2021 to October 31, 2022. The travel provider increased its sales in this period to 3.7 billion euros after the revenues in the first year of the pandemic had plummeted to 1.5 billion euros.