Best Reisen Ltd, a leading tour operator in Hungary, was hit by big losses in its Egyptian and Tunisian holidays. The company said on Friday that it had gone bankrupt and left hundreds of tourists in Red Sea resorts in Egypt.

Best Reisen had financial deposits of USD5.75 million. The said deposits would suffice in covering the costs of bringing passengers home  after taking the tour with the company. The amount would also cover payments for clients who booked previous trips to these troubled countries.

The Hungarian tour company operated since 1995. In a statement on their Facebook page, it said that the financial troubles of Best Reisen were caused by the falling demand on big losses on tours to Tunisia and Egypt. The company did not disclose how many people who took tour packages with them were left in Egypt. The managing director of the firm could not be reached to give statements regarding the report.