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Germania Files for Bankruptcy

Photo: Wikimedia Commons/Ole Simon

 

Berlin-based leisure carrier Germania has become the first major casualty of 2019. In a fresh blow to the German aviation sector, the airline filed for bankruptcy on February 4, cancelling all scheduled services with immediate effect.

Management at the firm have cited currency fluctuations, “massive increases” to fuel prices and “considerable delays” in phasing aircraft into the fleet among the key reasons for the carrier’s failure. The insolvency follows the failure of Air Berlin in 2017 which at the time was the country’s second-largest carrier.

(Photo: Wikimedia Commons/Ken Fielding)

In a statement, Karsten Balke, Germania CEO commented: “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.”

Blake paid tribute to the company’s staff and emphasised the exhaustive efforts undertaken the workforce, adding: “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.”

At the time of its collapse, Germania operated a narrowbody fleet of 37 aircraft including Airbus A319 and A321 examples, in addition to Boeing 737-700s. Its core operations included holiday flights to destinations across Europe, North Africa and the Middle East.

A Germania spokesperson added that Swiss subsidiary Germania Flug AG and Bulgarian Eagle are unaffected by the move.

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