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Egyptian billionaire Samih Sawiris needs state aid for his FTI travel company. The company is in financial difficulties due to the corona pandemic. The German state has to help. 235 million euros flow from the Berlin wallet.
Sawiris only took over the majority at FTI in the spring. It owns 75 percent of the third largest travel company in Europe. In Switzerland, the Egyptian is best known for his engagement at Andermatt UR. With more than a billion francs, he expanded the old military site.
In Switzerland, it has so far managed to do so without government support. In fact, winter tourism has started relatively well. The first gondolas went up to the Gemsstock last weekend. The 1000 guest limit was reached in the ski area on both days.
Corona forces you to take emergency measures
Things are different in the travel business with FTI. The first corona wave tore a huge hole in the balance sheet. The second wave makes the situation worse. The core business is threatened. It has to be saved. FTI even sold the old ZDF dream boat for this reason. The cruise ship will now be converted into a megayacht.
Meanwhile, the business operations of the online portal fly.de, the language tour operator LAL and the cruise operator FTI Cruises have been discontinued. An FTI Berlin phone service center is closed. Part-time work applies to almost all employees. So far, the company has employed 12,000 people around the world.
Like every other company in the industry, FTI suffers. The pandemic hit the tourism business the hardest. In Switzerland, Hotelplan, Tui Suisse and Kuoni are being dismantled. The crisis has already cut 380 jobs in the three largest tour operators in Switzerland. (ise)
