Germania airline collapses

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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.