Germania airline files for bankruptcy

Budget German airline Germania has filed bankruptcy proceedings in court in Berlin and canceled all flights with immediate effect, the company's management said on Monday night.

The Berlin-based airline has been struggling with serious financial problems and in recent weeks has taken steps to regain financial liquidity. "Unfortunately, we did not succeed (...) We regret that in this situation we had nothing left but to file for bankruptcy," said chairman of the management board of Germania Karsten Balken. He apologized to the employees and passengers of Germania who will suffer as a result of this decision.

Germania has existed for over 30 years. It served mainly short- and medium-range routes, flew to around 60 airports in Europe, Africa and the Middle East. The airline transported over four million passengers annually.