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HOTEL, TOURISM & LEISURE

Germania Airline Files for Bankruptcy

Germania Airline Files for Bankruptcy

Budget airline Germania has filed for bankruptcy and cancelled all of its flights with immediate effect.

The Berlin-based airline, which flew to destinations across Europe, Africa and the Middle East, transported more than four million passengers a year.

It blamed rising fuel prices and currency fluctuations as two factors, the BBC reports.

"We ultimately failed to successfully complete our financing efforts to meet short-term liquidity needs," said managing director Karsten Balke.

"We very much regret that, as a consequence, we had no choice but to file for bankruptcy."

The company said that passengers who had booked flights as part of a package should contact their tour operator to make different arrangements, but added that people who booked directly with them were not entitled to a replacement flight.

It is another blow to the German air industry after the country's second biggest carrier at the time, Air Berlin, filed for insolvency in August 2017.

According to Cyprus airports operator Hermes, the airline was operating four flights a week to Paphos from four German airports; Berlin, Dusseldorf, Hamburg and Nuremberg, carrying some 50,000 visitors to the island last year.

Winter traffic, according to Hermes, was in the region of 700 passengers a week across the four flights, the Cyprus Mail reports.

Around 80 per cent of visitors booked online and will be sorted out by the airline, Top Kinisis, which is listed as the representatives for Germania in Cyprus.  It added that any Cypriots who booked, but they were very few, should contact their bank to secure a refund, as was the case with Cobalt airlines.

 

 

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