View Full Version : FlyFTI closing down
German Charter Airline FlyFTI will be closing down by 30NOV2001.
This information came out today; when also Carnival announced that they would be selling their 25 percent stake in the main company FTI.
All Capacity will be relocated mainly to Air Berlin, but also LTU and Aerolloyd will be receiving their share...
That leaves 4 A320 (180Y) open for sale, or will they be taken over by Airtours?
[This message has been edited by ROAR (edited 21 May 2001).]
sapco2
21st May 2001, 19:22
Carnivals sale - prompted by Airtours worse than expected first half year loss of £97.6m compared with £81.7m lst year! (from Ch 4 teletext)Carnival were Airtours largest major shareholder holding 123.298 million shares.
late pushback
22nd May 2001, 16:31
First Air Belgium, now FTi.
If I was flight crew with anything to do with the Airtours empire I would be worried as the have a habit of buying & closing down airlines.
Maybe AIH UK could be flagged out to Air Volga or someone?
willoman
22nd May 2001, 20:17
Airtours are certainly beginning to look very vulnerable - particularly if the suggested holiday industry price war commences. With the German takeover of Thomson & Thomas Cook in recent months, it would seem that there will be an absence of rescue partners.
Fly FTI is closing because other German airlines have offered capacity to FTI more cheaply and flexibly than can be provided internally. Wots wrong with that? Same thing has happened on the Airtours Australia routes.
The dumping of 25% of Airtours shares on the market does not seem to be having a significant impact on the share price.
Airtours International looks set for possibly another significant expansion this winter as flying for the newly acquired businesses is brought in-house.
Somehow I doubt that there is any need for a rescue just yet!