{"id":7139,"date":"2019-02-05T10:42:55","date_gmt":"2019-02-05T10:42:55","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/germania-airline-files-for-bankruptcy\/"},"modified":"2019-02-05T10:42:55","modified_gmt":"2019-02-05T10:42:55","slug":"germania-airline-files-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/germania-airline-files-for-bankruptcy\/","title":{"rendered":"Germania airline files for bankruptcy"},"content":{"rendered":"\n
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\"GermaniaImage copyright<\/span>
\n Reuters<\/span><\/p>\n

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Budget airline Germania has filed for bankruptcy and cancelled all of its flights with immediate effect.<\/p>\n

The Berlin-based airline, which flew to destinations across Europe, Africa and the Middle East, transported more than four million passengers a year.<\/p>\n

It blamed rising fuel prices and currency fluctuations as two factors.<\/p>\n

“We ultimately failed to successfully complete our financing efforts to meet short-term liquidity needs,” said managing director Karsten Balke.<\/p>\n

“We very much regret that, as a consequence, we had no choice but to file for bankruptcy.”<\/p>\n

The company said that passengers who had booked flights as part of a package should contact their tour operator to make different arrangements, but added that people who booked directly with them were not entitled to a replacement flight.<\/p>\n

It is another blow to the German air industry after the country’s second biggest carrier at the time, Air Berlin, filed for insolvency in August 2017.<\/a><\/p>\n

And it follows more recent problems among other budget carriers.<\/p>\n

On Monday, Ryanair posted its first quarterly loss since March 2014,<\/a> when announcing a net loss of \u20ac19.6m (\u00a317.2m) for the last three months of 2018.<\/p>\n

And last week, Norwegian Air announced that it wants to raise 3bn Norwegian kroner (\u00a3268m)<\/a> through a rights issue to improve its finances.<\/p>\n

Other airlines like Wow and Flybe are looking for buyers.<\/p>\n<\/p><\/div>\n


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Source<\/a> by [author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Image copyright Reuters Budget airline Germania has filed for bankruptcy and cancelled all of its flights with immediate effect. The Berlin-based airline, which flew to destinations across Europe, Africa and the Middle East, transported more than four million passengers a year. It blamed rising fuel prices and currency fluctuations as two factors. “We ultimately failed … <\/p>\n","protected":false},"author":0,"featured_media":7140,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7139","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/7139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=7139"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/7139\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/7140"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=7139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=7139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=7139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}