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Germania in financial difficulties
According to Aero Telegraph, German airline Germania is in financial difficulties. I quote: “The European aviation industry has changed in the recent time”: With these words, the latest press release of the German airline Germania, which she released on Tuesday, “current events” begins. This appears in the message, then continue below: Germania needs money in the short term. As a reason for financial problems is stated in the notice, among other things, the “massive fuel price increases over the summer of last year while depreciation of the Euro against the US Dollar”; it also “significant delays in the Acquisition of aircraft, as well as an exceptionally high number of technical services to our fleet”. During the flight operation there is, however, no limitations. All Germania flights are held accordingly to plan. Germania is considering, apparently, also a for sale As the industry portal “Aero Telegraph” reported, was Germania shortly before the turn of the year in acute financial difficulties. Up to 27. December have used the German airline 20 million euros, to be able to fly further, according to the Portal, relying on several independent and consistent sources. Therefore, it is no longer just a short-term funding gap: a sale of the whole of the Germania group in part or as a Whole, according to “Aero Telegraph” a current topic. However, the search for new shareholders had been unsuccessful. |
Airbus fleet so who would they fit in with one wonders ? Perhaps an expansion of Laudamotion.
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Mainly Airbus (roughly 18 A319s and 6 A321s) but also 6 B737s at the moment.
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Shame - always thought they were a nice little airline - seems almost all of the venerable and vulnerable older charter airlines are going the same way as Monarch - very sad - hope they survive, thought they were very popular with their niche UK IT flights with some UK bases.
I think Germania is possibly one of the last remaining original private owned IT holiday charter airline left in Europe (they has been around for over 40 years) They expanded in recent years into Switzerland and Bulgaria ops plus Germania decided to sell its Boeing 737s and rely on an "all Airbus" fleet, the Boeing 737-700 will be replaced by the end summer 2019 In 2016, Germania had ordered 25 A320 Neo and secured an option for another ten aircraft of the same type. First services due for 2020. |
Management released update last night that short term financing has been secured and things seem to be ok for for now. I say “for now” as the question remains, why are they in this financial situation after an over all busy summer (for all airlines)? Business model not working? What happens when / if oil goes up towards $85-90 and stays there? CP |
Originally Posted by CaptainProp
(Post 10356824)
Management released update last night that short term financing has been secured and things seem to be ok for for now. I say “for now” as the question remains, why are they in this financial situation after an over all busy summer (for all airlines)? Business model not working? What happens when / if oil goes up towards $85-90 and stays there? CP Seems Germania pulled out of the UK bases in most despite being popular with pax and tour operators alike. Seems alot of UK work has gone to Polish Enter Air. As for business model again a foremost charter holiday airline fights to now compete with Lo-co operators - they have also split the company into Swiss and Bulgaria operations with separate company names Germania Flug AG and Bulgarian Eagle, |
Originally Posted by rog747
(Post 10356895)
Once again its all about fuel costs and efficiencies of the fleet/operations both in terms of fuel burn and technical support - The 737-700's it mentions are costly to maintain
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Originally Posted by CargoOne
(Post 10356937)
I suggest you tell this to Southwest who operating just 513 (Five Hundred and Thirteen) 737-700s and consistently have one of the highest profit margins in aviation. With Germania it is all about half of the fleet parked during the winter generating no revenue and competition with large Locos causing low ticket prices.
To have winter 'lows' has always been the bug bear of the IT flight industry - make hay in the summers whilst you can was the old adage As for the 737-700 - GMI is not SW So to have an older somewhat orphan fleet in between more economical Airbus 319/321 will of course create higher costs in both MX/crewing and ops - hence these are all going this year |
Originally Posted by rog747
(Post 10356778)
Shame - always thought they were a nice little airline -
Germania offers P2F since 1994 and has about the worst conditions in the industry. Not sure if that is you definition of a nice little airline. |
Originally Posted by EAM
(Post 10357061)
How did you come to that conclusion?
Germania offers P2F since 1994 and has about the worst conditions in the industry. Not sure if that is you definition of a nice little airline. |
Pay to upgrade as well. The customers are clueless, though admittedly the brand had a nice zing to it at some places.
https://aviation-safety.net/wikibase/wiki.php?id=203097 |
Word in the aviation authority is, GMI come up with funds before week ends or might start the next without AOC.
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...salaries not being paid...
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...attempting chapter 11-like administration apparently, but the word is it won't be approved so the LBA is going to pull the plug on Monday.
Just gossip still, but coming from all sides now... |
So Germany's last private long established holiday airline future looks bleak, started life in the 70's as SAT with Caravelles -
Is there any one else now left in Europe? Monarch was the last in the UK....We have Titan but not quite the same although they do quite a few IT flights of their own |
It would be sad to see this airline disappear. I happened to take this shot of one of their Caravelles at Palma in April 1984. They changed their operating name to Germania in 1986.
https://imagizer.imageshack.com/v2/6...922/0Gpo2U.jpg |
They still use ST for their flight numbers :(
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Nothing new really, confirming salaries haven't been paid and AOC might be pulled as early as tomorrow:
https://www.handelsblatt.com/unterne.../23937878.html |
All flights cancelled as of tonight.
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ST de-listed from Amadeus GDS worldwide, as I type.
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Pax checking in for flight ST4008 MUC-BEY being turned away by handling staff at this time. Airport still lists the flight, but ST ops software doesn't.
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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? |
Possibly just my PC being messed up, but I can't seem to get the Germania website to quote me a price for a ticket
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Originally Posted by davidjohnson6
(Post 10380368)
Possibly just my PC being messed up, but I can't seem to get the Germania website to quote me a price for a ticket
Its working at the moment |
Negotiation with potential investor(s) still in progress, dead line 1 am (UTC+1) for a result. Otherwise probably pulling the plug.
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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.
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Originally Posted by safelife
(Post 10380347)
Pax checking in for flight ST4008 MUC-BEY being turned away by handling staff at this time. Airport still lists the flight, but ST ops software doesn't.
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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. |
It's all over for the German airline. The Swiss and Bulgarian subsidiaries live to see another day though
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Originally Posted by davidjohnson6
(Post 10380513)
It's all over for the German airline. The Swiss and Bulgarian subsidiaries live to see another day though
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A press release:
Germania Fluggesellschaft mbH, Germania Technik Brandenburg GmbH, and Germania Flugdienste GmbH File for Insolvency, Flight Operations Terminated02/05/2019 - BerlinGermania 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 |
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 |
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! |
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. |
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! |
Well, someone is reaching out to the victims of this unfortunate event:
https://jobs.flightglobal.com/job/14...-/?TrackID=110 |
Originally Posted by bafanguy
(Post 10381389)
Well, someone is reaching out to the victims of this unfortunate event:
https://jobs.flightglobal.com/job/14...-/?TrackID=110 |
Originally Posted by racedo
(Post 10381420)
Think Laudamotion will be picking up lots.
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Originally Posted by Hotel Tango
(Post 10381161)
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!
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