One year after the demise of Air Berlin, does Germania go through financial difficulties? It looks like, after the publication of the statement hereunder this morning, 8 January.
No worries yet, as all flights are still operating as scheduled.
The German press hints that the company could be for sale, with IAG, Lufthansa and easyJet being interested.
“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. The airline sells the tickets both in retail sales, as well as through tour operators. With 37 aircraft, it serves more than 60 destinations. There are currently more than 1150 employees working for the airline.
UPDATE (10/01/2018): Germania has found an investor at short notice to fill a liquidity gap and keep it flying to destinations in Southern Europe and beyond.