Egyptian billionaire Samih Sawiris is set to acquire Austrian businessman Dietmar Gunz’s shares in the German FTI Group, the third-largest tour operator in Europe, thereby becoming the group’s sole owner according to German newspaper Die Welt on Monday.
Sawiris previously acquired 30 percent of the group’s shares in 2014.
Managed solely by Gunz, the group has services across 120 destinations in 6 source markets with over 70 own and managed hotels.
The group sounded alarm like many other industries due to travel restrictions forcing it to return 65,000 tourists and halt flights because of the coronavirus pandemic.
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