Germania airline collapses


Berlin-based airline Germania has collapsed and cancelled all flights with immediate effect.


Berlin-based airline Germania said on Tuesday it had filed for bankruptcy and would terminate flight operations with immediate effect.


The airline’s website said it transported over four million passengers a year to mainly Mediterranean, North African and Middle Eastern destinations.


The news, coming less than 2 years after fellow German airline Air Berlin went bust, reflects the turbulence in the European airlines industry.


Germania blamed rising fuel prices and a strong dollar for the collapse.


“Unfortunately, we were ultimately unable to bring our financing efforts to cover a short-term liquidity need to a positive conclusion,” Chief Executive Karsten Balke said in a statement.


The Federal Association of the German Aviation Industry said Lufthansa, TUI and Condor would offer stranded Germania passengers special rates to return to Germany.