The airline Germany, in bankruptcy / stopped the activity
According to the official statement, Germany Fluggesellschaft mbH, Germany Technik Brandenburg GmbH and Germany Flugdienste GmbH have declared insolvency. Commercial activities were stopped.
The 3 divisions Germany filed for insolvency on 4 February, and the activity was stopped on the night between 4 and 5 February. The employees were informed of the unpleasant situation.
Germany Flug AG, the Swiss division, and the Bulgarian Eagle are not affected by this situation.
Germany in bankruptcy
Karsten Balke, CEO of Germany Fluggesellschaft MBH, apologized to employees and passengers for the company's situation. Unfortunately, the group was facing major short-term liquidity problems, which led to bankruptcy.
The problems for Germany appeared in the summer of 2018, as the barrel of oil increased. And the devaluation of the euro against the dollar contributed to the decrease of the cash flow. Plus major expenses on aircraft maintenance.
In aviation, everything is dynamic, and geo-political and economic factors can greatly influence the evolution of airlines. This time, Germany's bankruptcy plunder plummeted. What will be the next one?
The history of the German airline began in 1978. The focus was largely on the charters segment. At the time of the bankruptcy, it had a fleet of 36 of Airbus A319 / A321 and Boeing 737-700 aircraft. Operate flights to 42 from destinations on 13 airports in Germany.