Only founded in September 2023
Travel provider insolvent – 1,500 travelers affected
November 24, 2024 – 12:22 p.mReading time: 2 min.
After just over a year, the travel provider We-Flytour went bankrupt. Thousands of travelers are affected.
The tour operator We-Flytour GmbH is insolvent. As the company announced on Saturday, it would file for insolvency with the responsible local court at the beginning of the week. All upcoming trips have been canceled. This is what the industry magazine “Reise vor 9” reports
The German Travel Security Fund (DRSF) stated on its website that 1,500 people are currently on trips organized by We-Flytour, mainly in Turkey and Egypt. The DRSF guarantees all travelers a safe journey home or a smooth continuation of their vacation, it goes on to say. Furthermore, all payments already made will be covered and those affected will be contacted.
The DRSF was launched in 2021 following the insolvency of Thomas Cook at the instigation of the Ministry of Economic Affairs in order to better protect package travelers from the consequences of their travel provider’s insolvency.
The reason for We-Flytour’s insolvency is said to be a change in credit card provider. As “Reise vor 9” reports, citing information from the trade magazine “FVW | TravelTalk”, the previous provider for processing customer payments has withdrawn from the market and We-Flytour has not managed to establish a relationship with the new provider in two months set up a new system. This led to liquidity bottlenecks, which in turn led to important sales partners ending their cooperation.
We-Flytour was only founded in September last year as a package tour provider with a focus on trips to Turkey. The company is backed by AAH Management Company SA, based in Luxembourg.
For travelers who are faced with problems on site, the DRSF and its partners have set up emergency numbers that they can contact:
Travelers in Turkey can get help by calling +90 (0)533 653 35 38 and +90 (0)533 613 91 53. Travelers in other destinations can contact +49 (0)69 9588 4076.
How can travelers protect themselves from potential disruptions in the travel industry?
Interview between Time.news Editor and Travel Industry Expert
Editor: Welcome to Time.news. Today, we have with us Dr. Anna Fischer, a travel industry expert. Anna, thank you for joining us.
Dr. Fischer: Thank you for having me. It’s a pleasure to be here.
Editor: We recently reported on the insolvency of We-Flytour, a travel provider that was only founded in September 2023. This sudden collapse is shocking. What are the common reasons for such a quick downfall in the travel industry?
Dr. Fischer: The case of We-Flytour is indeed surprising. Typically, insolvencies happen due to poor financial planning, lack of sufficient market research, or rapid expansion without adequate resources. In the travel sector, external factors like economic downturns, increasing competition, and global crises, such as pandemics, can also play a significant role.
Editor: We know that 1,500 travelers are currently affected by this bankruptcy, primarily on trips to Turkey and Egypt. How does this situation usually impact those travelers?
Dr. Fischer: When a travel provider goes bankrupt, it can be quite distressing for the travelers. In this case, the German Travel Security Fund has stepped in to ensure the affected travelers have a safe journey home or can continue their vacations smoothly. However, travelers often face uncertainties regarding their accommodation, flights, and overall trip plans, which can generate a lot of stress.
Editor: It’s good to know that there are measures in place to protect travelers. How important are industry regulations and safety nets, like the German Travel Security Fund, in preventing these situations?
Dr. Fischer: Essential. Such safety nets are crucial in maintaining consumer confidence in the travel industry. They provide a safety buffer for travelers and help ensure that even in times of financial distress for a travel provider, customers are protected. Regulations can encourage responsible business practices among travel operators, which can, in turn, reduce the risk of insolvencies.
Editor: Since We-Flytour specialized in trips to Turkey, do we see any specific trends or patterns on why certain destinations are more vulnerable during such financial shifts?
Dr. Fischer: Absolutely. Destinations that rely heavily on tourism can be particularly vulnerable to market fluctuations. If an operator offers trips primarily to these areas, economic challenges, or incidents affecting those regions can lead to a sudden drop in demand. Plus, if a company doesn’t diversify its offering to mitigate risks, it faces a higher chance of insolvency.
Editor: Given the rapid changes in the travel industry, what’s your advice for consumers planning their trips in light of these uncertainties?
Dr. Fischer: My advice would be to always book through reputable operators who have a solid track record. Travelers should also check the financial resilience of the providers they’re considering. Additionally, travel insurance that covers insolvencies is something that I highly recommend. It can offer an added layer of protection in case something goes wrong.
Editor: Those are insightful tips! As we conclude our discussion, how do you foresee the future of the travel industry in light of this incident and the ongoing challenges it faces?
Dr. Fischer: The travel industry is resilient, but it needs to adapt continually. Transparency, better risk management, and understanding consumer needs will be vital for companies looking to survive and thrive. While some players may fall, this can also pave the way for more innovative and dynamic companies to rise.
Editor: Thank you, Dr. Fischer, for sharing your insights. It’s essential for our readers to gain a deeper understanding of these challenges within the travel sector.
Dr. Fischer: Thank you for having me! It’s been a pleasure discussing these important issues.