Germania files for insolvency proceedings, ceases operations

    Germania filed (05-Feb-2019) for insolvency proceedings with Berlin-Charlottenburg’s District Court, with air traffic operations terminated effective 05-Feb-2019. Germania CEO Karsten Balke stated: “Unfortunately, we were ultimately unable to bring our financing efforts to cover a short term liquidity need to a positive conclusion… our only option was to file for insolvency”. Subsidiaries Germania Technik Brandenburg GmbH and Germania Flugdienste GmbH are included in insolvency proceedings, with Swiss airline Germania Flug AG and Bulgarian Eagle unaffected. As previously reported by CAPA, the airline faced ongoing financing issues, prompting delays to employee salary payments for Jan-2019. [more – original PR – English/German]