Berlin-based Germania airline company and its partners have filed for bankruptcy due to rising fuel prices and the weakening of the euro against the dollar, the company said in a press release on Tuesday
MOSCOW (Pakistan Point News / Sputnik - 05th February, 2019) Berlin-based Germania airline company and its partners have filed for bankruptcy due to rising fuel prices and the weakening of the euro against the Dollar, the company said in a press release on Tuesday.
"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," the press release said.
The company explains such a move with unforeseeable reasons, including the rise in fuel prices recorded last summer, which coincided with the weakening of the euro against the dollar. Among the reasons, the company also mentions significant delays in commissioning aircraft and an unprecedented number of maintenance activities.
Germania is an independent German airline company, established over 30 years ago. The company carried over four billion passengers a year on short and medium-haul flights. Germania offered routes from 18 airports in Europe to more than 60 destinations on the continent, in North Africa and in the middle East.
