Airlines German carrier Germania facing financial problems
New Year - New financial problems! The Berlin-based carrier Germania has published a press release concerning the current financial situation.
The chaotic year 2018 has left its mark on aviation in Europe: Airlines such as VLM, Primera Air and Private Air had to file for bankruptcy and ceased operations. Now Germania seems to have financial problems as well. According to a published press release, Germania is currently “examining various financing options to ensure its short-term liquidity needs”. German media reports, the carrier is looking for financially strong investors who can ensure the long-term operation of the airline.
The problems mentioned by the airline have already led to previous bankruptcies of other airlines: Beside the massive increase in fuel prices in the last months, the carrier had to deal with delays in phasing aircraft into the fleet and an unusual high number of maintenance events. Due to the massive delays in Europe in the summer, the airline will have to pay additional high compensation to customers.
The airline emphasizes that there are no restrictions on the flight operations and all Germania flights continue to be operated as planned. Germania operates a mixed fleet of 18 Airbus A319, six A321 and six Boeing 737-700. To renew and standardize the fleet, Germania ordered 25 Airbus A320Neo and plans to retire all Boeing aircraft by 2020. The airline operates charter flights from several German airports as well as scheduled flights to holiday destinations. In addition to flights to popular holiday destinations in the Mediterranean region, Germania also flies to destinations such as Tehran in Iran, Erbil in Iraq or Beirut. Germania owns to subsidiaries: The Bulgarian unit Bulgarian Eagle, which operates two Airbus A319 on behalf of its parent company and the Swiss subsidiary Germania Flug which operates flights from Zurich. Germania has also stationed an aircraft at Pristina Airport in Kosovo that connects the capital with various European destinations.
It remains questionable which investor might currently be interested in Germania. Competitors such as Easyjet, Ryanair, Lufthansa or the IAG Group are busy with their own projects and are probably not interested in taking over and integrating a new airline.
Source © flygermania.de