Germania Airlines announces bankruptcy



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Per:| Key words: Germany-Germania
French.china.org.cn | Updated 06-02-2019

German airline Germania has declared bankruptcy and all its operations were suspended on Monday night, the airline said Tuesday.

"Unfortunately, we have failed to successfully complete our funding efforts to cover a short-term liquidity need," said Karsten Balke, Germania's director.

Germania Airline's financial problems were revealed in early January when Germania was seeking a loan or selling shares to cover a deficit of at least 20 million euros ($ 22.8 million) to maintain its operations. floating during the winter.

Germany attributed its insolvency to a net increase in kerosene prices during the summer of 2018, combined with a depreciation of the euro against the US dollar. The German airline also had to deal with "considerable delays in the gradual introduction of aircraft in its fleet" and "an unusually high number of maintenance tasks."

The largest German airline Lufthansa has announced that it will offer discounted tickets to Germania's customers. Due to this insolvency, "another special situation for the German aviation industry" occurred, Lufthansa said.

In 2017, the second largest German airline Air Berlin went bankrupt. Approximately 8,000 employees were affected by this situation.

Germania was founded in 1986. The company carried about four million passengers per year in 37 small and medium-haul aircraft to Europe, North Africa and the Near and Middle East. F

<! – enpproperty 744433262019-02-06 04: 52: 10: 147Germany: Germania Airlines announces bankruptcyGermany-Germania10027176468presentpresenthttp://french.china.org.cn/foreign/txt/2019-02/06/content_74443326.htmnullXinhua News AgencyGerman airline Germania has declared bankruptcy and all its operations were suspended on Monday night, the airline said Tuesday.1/ Enpproperty ->

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