German airline Germania has filed for bankruptcy
On 4 February 2019, German airlines Germania informed about the suspension of their business activities and the filing of an application for bankruptcy. The company owns 37 aircraft, which served an average of 4 million passengers per year. Germania offered its services on routes in the Mediterranean region, North Africa and the Middle East.
The financial problems of the airline arose from the increase in oil prices and intense competition, in particular from low-cost airlines, which increased their presence in Berlin after the collapse of Air Berlin.
Experts point out that today, in order to survive in the congested European sector, carriers need to be niche players or have an extensive network of connections, such as the low-cost airline Ryanair.