**BREAKING NEWS: German Travel Giant FTI Declares Insolvency**

**Financial Struggle Leads to Court-Appointed Administration**

**Customers Urged to Contact Travel Agents or Airlines**

In a shocking turn of events, Europe's third-largest travel conglomerate, FTI Touristik GmbH, has filed for insolvency at the Munich District Court. The company, which owns a portfolio of renowned travel brands including FTI Touristik, Air Berlin Aviation, and Sundair, has been struggling financially for months.

According to a statement released by FTI Group, the company has been severely impacted by the COVID-19 pandemic and its aftermath. Travel restrictions, border closures, and reduced consumer confidence have decimated the company's revenue streams. Despite attempts to restructure its operations and secure additional financing, FTI has been unable to recover from the severe losses it has incurred.

The insolvency filing has thrown the travel industry into chaos, as hundreds of thousands of customers are left stranded with canceled flights, hotel bookings, and package tours. FTI has advised customers to contact their travel agents or airlines directly for assistance. The company has set up a dedicated hotline and website to provide support and updates.

The collapse of FTI is a significant blow to the German and European travel sectors. The company employed over 10,000 people and handled millions of travelers each year. It remains unclear what the future holds for FTI and its various businesses.