The insolvent travel group FTI has canceled package tours up to and including July 5.

The trips would be associated with too many uncertainties for vacationers, explained insolvency administrator Axel Bierbach on Friday. In the meantime, negotiations are continuing with other tour operators to take over the upcoming trips. Competitors such as TUI, Dertour or Alltours are offering bookings, some of them with flexible cancellation rules, in order to win over FTI customers. Some of them are already in the process of negotiating contracts with hoteliers to stand in for FTI. The gap that the bankruptcy of Germany's third-largest tourism group has created in the product range is likely to close quickly, according to estimates from the industry.

(Report by Ilona Wissenbach. Edited by Olaf Brenner. If you have any queries, please contact the editorial team at frankfurt.newsroom@thomsonreuters.com)