V.Ö. Travel, the tour operator launched two years ago by veteran Turkey tourism entrepreneur Vural Öger, has declared insolvency and stopped trading.
The loss-making company remained behind its targets this year and bookings for 2016 have also started badly, owner Vural Öger told fvw. In addition, Öger was impacted by 16 million worth of debts owed to his Turkish hotel group Majesty Hotels by insolvent Russian tour operator Teztour and several other Russian firms.
Unavoidable insolvency
In view of the economic situation in Russia and weak bookings in Germany, Öger said he did not expect any improvement this year and the insolvency of V.Ö Travel had thus been unavoidable. Some 16 employees are impacted. His incoming ag…
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