Germania is the latest carrier to reveal financial troubles and said it is “examining various options to ensure its short-term liquidity needs”.
The Berlin-based airline said challenges included a massive increase in fuel prices, and the weakening of the Euro versus the US dollar.
Germania said in a statement: “Europe’s aviation industry has undergone major changes recently, 2018 was a particularly challenging year. The entire industry is undergoing transition and Germania with it.
“Unforeseeable events such as the massive increases in fuel prices last summer and the simultaneous weakening of the euro against the US dollar were major burdens for our company, as were considerable delays in phasing aircraft into our fleet and an unusually high number of maintenance events that our aircraft required.
“Therefore, Germania is currently examining various financing options to ensure its short-term liquidity needs. We are focusing on the central question of how we can continue to be effective in a market environment dominated by airlines under larger corporate structures. Nevertheless, there are no restrictions on our flight operations and all Germania flights continue to be operated as planned.”
Germania carries more than four million passengers a year on short-haul and medium-haul flights with connections from 18 departure airports in Europe to over 60 destinations using a fleet of 37 aircraft.