Lanzarote assesses German tour operator FTI collapse

Lanzarote’s Cabildo is currently evaluating the impact of the collapse of German tour operator FTI Touristik GmbH.

Cabildo President Oswaldo Betancort expressed his regret that FTI had been declared bankrupt, but pointed out that the company’s volume of tourism was “relatively low”.

FTI contributed around 5% of all German tourism to the island in 2023, bringing 13,000 of the quarter of a million German visitors that landed on the island last year.

The Cabildo, along with the island’s tourist federations, are assessing the impact that debts and unpaid invoices may have on the sector, although Betancort has stated that he does not expect them to be excessively high.