Germania ending operations.Back to Forum
It appears that Germania Airlines (ST/GMI) have succumbed to their recent financial difficulties and have tonight ceased operations.4 Feb 2019
Wow, that was unexpected. It was known that Germania was in financial difficulties but I thought they had sorted that out, at least to get them through the winter.
However, it apparently was not so, thus another one bites the dust. More importantly is how this will affect the other players. Norwegian is still clinging on by its fingertips but maybe it could take advantage of Germania´s bankrupcy to help solve its own problems. Quite frankly I doubt it as I do not see any-many synergies between the two markets. Let us see.
There is no statement on Germania,s website as yet in English.4 Feb 2019
Germania Fluggesellschaft mbH, Germania Technik Brandenburg GmbH, and Germania Flugdienste GmbH File for Insolvency, Flight Operations Terminated
02/05/2019 – Berlin
Germania Fluggesellschaft mbH, its sister maintenance company Germania Technik Brandenburg GmbH as well as Germania Flugdienste GmbH filed for insolvency at Amtsgericht Berlin-Charlottenburg on Monday, February 4, 2019. Flight operations will be terminated in the night from February 4 to February 5. Germania’s employees have been informed. Swiss airline Germania Flug AG and Bulgarian Eagle are not affected by this step.
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.”
Those Passengers affected by the suspension of flight operations who booked their Germania flight as part of a package holiday can contact their respective tour operator in order to organize substitute carriage. For passengers who have booked directly with Germania, there is unfortunately no entitlement to substitute carriage.
Germania’s short-term liquidity need emerged 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 aircraft into the fleet and an unusually high number of maintenance events that the airline’s aircraft required were major burdens for the company.5 Feb 2019