Another German Airline bankrupt
On Monday Germania Fluggesellschaft mbH, its sister maintenance company Germania Technik Brandenburg GmbH as well as Germania Flugdienste GmbH filed for insolvency in Berlin-Charlottenburg. Flight operations are terminated. Germania’s employees have been informed. Swiss airline Germania Flug AG and Bulgarian Eagle are not affected.
Karsten Balke, CEO Germania told German media: “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 apologize to our passengers who now cannot take their Germania flight as planned.”
Many passengers on Germany are flying from alternate German airports, like Muenster / Osnabrueck. They are victims of this latest bankruptcy, and those that had booked directly with the airline could only recover in disputing their credit card.
Those Passengers affected by the suspension of flight operations who booked their Germania flight as part of a package tour can contact their travel agency or tour operator and facilitate other transportation.
Germania’s short-term liquidity need emerged mainly due to unforeseeable events. Such events include increases in fuel prices, a weakening of the EURO to the US- Dollar, and a number of maintenance issues.