Ahmad 
11,000 tourists were exposed to a strange situation upon their arrival in Egypt through the European tourism company “FTI”, as the company declared bankruptcy as soon as tourists arrived in Cairo without paying the dues of Egyptian hotels and facilities.
According to the Egyptian authorities, the number of tourists at tourist sites dropped from 11,000 to less than 5,000 after the bankruptcy was declared.
The company, Europe’s third-largest tourism organization, filed for bankruptcy in a Munich court in Germany over large debts.
European media revealed that a famous Egyptian billionaire owns 75% of the company’s shares, and the company received German government aid worth 595 million euros during the Corona crisis, in addition to significant support from the Egyptian billionaire in 2020.
The Egyptian Minister of Tourism, Ahmed Issa, met with the ambassadors of Germany and Austria to discuss the situation of tourists and the situation of dues for hotel establishments and Egyptian tourism companies.
An insurance company and a German government fund pledged to pay the costs, stressing that all protected costs would be compensated.
The German ambassador to Egypt stressed the protection of the costs of hotel establishments and Egyptian tourism companies, noting that the necessary procedures to compensate these dues are underway.
The Egyptian minister called for speeding up the completion of these procedures to ensure the payment of all dues to Egyptian hotel establishments and tourism companies.
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