The bankruptcy of German travel giant FTI Group has dealt a blow to Cyprus’ tourism industry, with hoteliers facing a potential shortfall of 30,000 bookings this season, the Pancyprian Hoteliers Association (PASYXE) told CyBC Radio on Tuesday.

While around 800 FTI tourists currently holidaying in Cyprus are insured and will be repatriated under a German government scheme, the future bookings of tens of thousands remain uncertain, said PASYXE General Secretary Philokypros Rousounides.

The German market, an important source for Cypriot tourism, is further impacted by FTI’s collapse, which could have ripple effects on Austria and Switzerland where the group also operated.