The customers of Agetur, the first Romanian tour operator to go insolvent because of the coronavirus pandemic, will receive only half of the EUR 440,000 paid in advance for holidays this summer.

The clients will be compensated through the insolvency risk insurance policy, which will partially cover the amounts paid.

Agetur is one of the oldest companies in the country, founded in 1990. It had a business of RON 12 million (EUR 2.6 mln) in 2019.

The insolvency, approved by the court, was initiated at Agetur's request.

CAPI Țigănuș Anton & Țigănuș Radu was appointed as provisional judicial administrator. Contacted by Profit.ro, Anton Țigănuș declared that Agetur is a victim of the collapse in tourism generated by the coronavirus pandemic.

"Flights and foreign departures were suspended for three months. The money, received in advance from tourists, was paid to hotels abroad," he said.

(Photo: Tashatuvango | Dreamstime.com)

editor@romania-insider.com