Germania, an independent German airline, has announced about successful negotiations on financing issues.
Germania, an independent German airline, has announced about successful negotiations on financing issues. In the statement, the airline said it managed to find a solution to cover its short-time liquidity needs to keep the airline operable.
Just in the beginning of January Germania released the information about the year 2018 which appeared to be very challenging. Among the main factors which put the airline into trouble Germania mentioned “massive increases in fuel prices” and the “simultaneous weakening of the euro against the US dollar”.
Germania flying to over 60 destinations also revealed that in 2018 it had great problems with “delays in phasing aircraft” into the fleet of the airline which currently consists of 37 planes. Additionally, many troubles were caused by numerous “maintenance events” necessary to the aircraft.
Therefore, on 19 January 2019, Germania released a new statement saying that the airline received an important commitment. “In total, the financial support now exceeds the initial target amount of 15 million euros”.
“As a result, both the medium- and long-term viability of Germania Fluggesellschaft as an independent medium-sized airline has been secured“, the company said.