Germania in financial difficulties
A German investment report 7 hours ago says former airline managers Joachim Hunold (ex-LTU, ex-Air Berlin), Udo Stern and Jörn Hellwig with high pressure on a rescue.
with 15m e of cash...
Too late?
with 15m e of cash...
Too late?
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Well, given Hunolds track record, it is probably better to pull the plug right now than to labor on for a bit longer. Great at promising the moon, extremely poor at execution and absolutely great at running right into a wall.
I've had a look at FR242 and the Germania website - it seems that this flight operates normally only on Wednesday evenings and Sunday evenings at 20:45 or 21:45. So why are pax being checked in (or not) for this flight on a Monday evening ? Admittedly FR24 shows there was a cancellation of ST4008 on the evening of 03-Feb, but that is 24 hours before your post. If this was indicative of an imminent airline closure, presumably it would have happened within the following 24 hours ?
Frankly speaking I'm not certain about Munich's flight, I was just told that the representative sent passengers away.
But here's a confirmed one: ST4914 TXL-TLV.
Passengers are rioting in the airport at this time.
Crowd control is being called for.
But here's a confirmed one: ST4914 TXL-TLV.
Passengers are rioting in the airport at this time.
Crowd control is being called for.
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A press release:
Germania Fluggesellschaft mbH, Germania Technik Brandenburg GmbH, and Germania Flugdienste GmbH File for Insolvency, Flight Operations Terminated
02/05/2019 - Berlin
Germania Fluggesellschaft mbH, its sister maintenance company Germania Technik Brandenburg GmbH as well as Germania Flugdienste GmbH filed for insolvency at Amtsgericht Berlin-Charlottenburg on Monday, February 4, 2019. Flight operations will be terminated in the night from February 4 to February 5. Germania’s employees have been informed. Swiss airline Germania Flug AG and Bulgarian Eagle are not affected by this step.
Karsten Balke, CEO Germania Fluggesellschaft mbH, said: “Unfortunately, we were ultimately unable to bring our financing efforts to cover a short-term liquidity need to a positive conclusion. We very much regret that consequently, our only option was to file for insolvency. It is of course the impact that this step will have on our employees that we regret the most. All of them as a team always did their best to secure reliable and stable flight operations – even in the stressful weeks behind us. I would like to thank all of them from the bottom of my heart. I apologise to our passengers who now cannot take their Germania flight as planned.”
Those Passengers affected by the suspension of flight operations who booked their Germania flight as part of a package holiday can contact their respective tour operator in order to organize substitute carriage. For passengers who have booked directly with Germania, there is unfortunately no entitlement to substitute carriage.
Germania’s short-term liquidity need emerged mainly due to unforeseeable events such as massive increases in fuel prices last summer and the simultaneous weakening of the euro against the US dollar, considerable delays in phasing aircraft into the fleet and an unusually high number of maintenance events that the airline’s aircraft required were major burdens for the company.
Germania is an independent German airline with a history that goes back more than 30 years. The airline with the green and white logo carries more than 4 million passengers per year on short-haul and medium-haul flights. Germania offers connections from 18 departure airports in Europe to over 60 destinations within the continent, in North Africa and the Middle East. Reversing the common industry trend, Germania continues to offer complimentary snacks, soft drinks, magazines and a minimum of 20 kg free baggage allowance. Germania’s business model combines scheduled, charter and ad-hoc flights. Together with Bulgarian Eagle and the Swiss airline Germania Flug AG, Germania operates a fleet of currently 37 aircraft. Germania Technik Brandenburg GmbH is responsible for the company's aircraft maintenance. www.flygermania.com
Karsten Balke, CEO Germania Fluggesellschaft mbH, said: “Unfortunately, we were ultimately unable to bring our financing efforts to cover a short-term liquidity need to a positive conclusion. We very much regret that consequently, our only option was to file for insolvency. It is of course the impact that this step will have on our employees that we regret the most. All of them as a team always did their best to secure reliable and stable flight operations – even in the stressful weeks behind us. I would like to thank all of them from the bottom of my heart. I apologise to our passengers who now cannot take their Germania flight as planned.”
Those Passengers affected by the suspension of flight operations who booked their Germania flight as part of a package holiday can contact their respective tour operator in order to organize substitute carriage. For passengers who have booked directly with Germania, there is unfortunately no entitlement to substitute carriage.
Germania’s short-term liquidity need emerged mainly due to unforeseeable events such as massive increases in fuel prices last summer and the simultaneous weakening of the euro against the US dollar, considerable delays in phasing aircraft into the fleet and an unusually high number of maintenance events that the airline’s aircraft required were major burdens for the company.
Germania is an independent German airline with a history that goes back more than 30 years. The airline with the green and white logo carries more than 4 million passengers per year on short-haul and medium-haul flights. Germania offers connections from 18 departure airports in Europe to over 60 destinations within the continent, in North Africa and the Middle East. Reversing the common industry trend, Germania continues to offer complimentary snacks, soft drinks, magazines and a minimum of 20 kg free baggage allowance. Germania’s business model combines scheduled, charter and ad-hoc flights. Together with Bulgarian Eagle and the Swiss airline Germania Flug AG, Germania operates a fleet of currently 37 aircraft. Germania Technik Brandenburg GmbH is responsible for the company's aircraft maintenance. www.flygermania.com
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Sad to see another fine airline fail. Germania was a regular operator to Jersey and in addition to operating JER-FNC flights for the high number of Jersey residents of Portuguese descent, they were also to begin a season of flights to Tenerife.
https://www.jetphotos.com/photo/8418819
https://www.jetphotos.com/photo/8418819
Sad to see how those smaller and midsized airlines are not surviving while the big ones get bigger.
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Fine airline? ! Maybe for passengers or for remote destinations.
They invented pay2fly for copilots. Wages were abnormally low for crews!.
Clearly a bottom feeder. No loss in my eyes!
They invented pay2fly for copilots. Wages were abnormally low for crews!.
Clearly a bottom feeder. No loss in my eyes!
You have seen how small their financial reserves were. One bad winter and they couldn't pay their wages.
No need to kick somebody who just died.
No need to kick somebody who just died.
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Fine airline? ! Maybe for passengers or for remote destinations.
They invented pay2fly for copilots. Wages were abnormally low for crews!.
Clearly a bottom feeder. No loss in my eyes!
They invented pay2fly for copilots. Wages were abnormally low for crews!.
Clearly a bottom feeder. No loss in my eyes!
Well, someone is reaching out to the victims of this unfortunate event:
https://jobs.flightglobal.com/job/14...-/?TrackID=110
https://jobs.flightglobal.com/job/14...-/?TrackID=110
Well, someone is reaching out to the victims of this unfortunate event:
https://jobs.flightglobal.com/job/14...-/?TrackID=110
https://jobs.flightglobal.com/job/14...-/?TrackID=110
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But perhaps a way to build hours/experience and find something better later. When I started in ATC (in the UK btw) I was paid peanuts (and this was in the supposedly good times of the late 1960s). In those days we didn't moan moan moan like today. We just got on with it and worked our way up the ladder!
