Germania has filed for bankruptcy, terminating operations
Berlin-based airline, Germania, which carried over four million passengers a year, filed for insolvency on Monday 4 February 2019.
Flight operations were terminated overnight between the 4 and 5 February 2019, as Germania filed for bankruptcy; Swiss airline Germania Flug AG and Bulgarian Eagle are not affected by this step.
Germania is an independent German airline which has been flying for over 30 years. The airline carried more than four million passengers per year on short-haul and medium-haul flights. Germania offered connections from 18 departure airports in Europe to over 60 destinations within the continent, in North Africa and the Middle East.
Karsten Balke, CEO Germania Fluggesellschaft mbH, said: “Unfortunately, we were ultimately unable to bring our financing efforts to cover a short-term liquidity need to a positive conclusion. We very much regret that consequently, our only option was to file for insolvency. It is of course the impact that this step will have on our employees that we regret the most. All of them as a team always did their best to secure reliable and stable flight operations – even in the stressful weeks behind us. I would like to thank all of them from the bottom of my heart. I apologise to our passengers who now cannot take their Germania flight as planned.”
Insolvency of Germania is mainly due to unforeseeable events such as massive increases in fuel prices last summer and the simultaneous weakening of the Euro against the US dollar, considerable delays in phasing new aircraft into the fleet and an unusually high number of maintenance events that the airline’s aircraft required were major burdens for the company.