It seems the Germania group of airlines is the next airline to suffer – with the airline filing for insolvency today.
The move affects:
- Germania Fluggesellschaft mbH
- Germania Technik Brandenburg GmbH
- Germania Flugdienste GmbH
Flight operations will be terminated in the night from February 4 to February 5. Germania employees have been notified.
Swiss airline Germania Flug AG and Bulgarian Eagle are not affected, and continue to operate.
The airline primaily served
It seems that the cost of fuel prices last summer – along with the weakening of the Euro against the US dollar haven’t helped matters. Combined with issues phasing aircraft into the fleet and numbers maintence events – it was enough to push the company over the edge.
For passengers affected, its a mixed picture. Those who have booked a Germania flight as part of a package holiday should contact their tour operator to organise alternative transport. Those who have booked directly with Germania however are on their own, and have no recorse to alternative transport, thus will have to organise their own journeys
In Quotes
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.”
The shakedown continues
It seems the ongoing shakedown of airlines that can survive the current changes in the market continues. It’s claimed a few carriers last year (with Primera Air, Small Planet Airlines, Cobolt Air and so on), where smaller carriers who are cash-flow dependent are the first against wall.
Who’s next? There’s a few more to come I suspect…
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