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Tags: APFN | EU | Germany | Airline Grounded

German Airline Germania Files for Insolvency, Grounds Planes

Tuesday, 05 February 2019 02:37 AM

BERLIN (AP) — German airline Germania has filed for insolvency and grounded its planes after failing to secure short-term financing to stay aloft.

The Berlin-based airline, which had more than 30 planes and carried over 4 million passengers per year, announced the move early Tuesday and halted its operations with immediate effect. It served short- and medium-haul routes on both a scheduled and charter basis.

Germania acknowledged in early January that it was in financial difficulty and was unable to pay its employees last month.

In Tuesday's statement, the company pointed to "massive increases in fuel prices last summer and the simultaneous weakening of the euro against the U.S. dollar" as well as "considerable delays in phasing aircraft into the fleet and an unusually high number of maintenance events."

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
German airline Germania has filed for insolvency and grounded its planes after failing to secure short-term financing to stay aloft.The Berlin-based airline, which had more than 30 planes and carried over 4 million passengers per year, announced the move early Tuesday and...
APFN,EU,Germany,Airline Grounded
128
2019-37-05
Tuesday, 05 February 2019 02:37 AM
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