German airline Germania has today confirmed that it is suffering from financial issues and is ‘examining various financing options’.
The carrier’s group is even in talks for a possible sale of some or most of its shares to ensure liquidity and thereby its flight operations, aeroTELEGRAPH writes. According to the report, Germania needed 20 million Euro in late December to continue operating. The airline does not give any details on the reports of a possible sale, nor does it disclose financial information, but confirms that it is taking various steps to ensure financing.
In a statement, Germania says that 2018 was a challenging year for the airline, partly due to rising fuel costs, ‘considerable delays’ in phasing aircraft into its fleet and a ‘high number of maintenance events’, all of that meant higher than usual expenditures for the airline. “The entire [airline] industry is undergoing transition and Germania with it“, it said in a press release.
Germania confirmed to International Flight Network that flight operations are not affected and that the ‘booking behavior’ is normal. However, a Swiss travel company, Hotelplan Suisse, stopped selling Germania flights via its own booking system yesterday and is waiting for the development of the airline’s situation.
Founded in 1986, Germania is an airline offering both charter and scheduled flights. It specializes in rather unusual routes and destinations or special contracts, where there is little or no competition from other airlines. One example is the ‘Airbus shuttle’ between Hamburg Finkenwerder and Toulouse, which is operated by the carrier. Germania currently flies 34 aircraft, consisting of Airbus A319, A321 and Boeing 737-700, it also ordered 25 new Airbus A320neo in July 2016. Germania Flug, a Swiss airline of which Germania owns 40%, operates two A319s and one A321.
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Jakob Wert is an aviation journalist from Germany. He built up the website IFN.news and is the Editor-In-Chief of International Flight Network.