Germania (Berlin Schönefeld) is "examining various financial options" to solve its liquidity problems after tough 2018, the carrier said in a press statement. According to aeroTELEGRAPH, the airline is also considering selling its business to a new investor.
The industry website reported that at the turn of the year, Germania urgently needed as much as EUR20 million euros (USD23 million) to continue operations.
"We are focusing on the central question of how we can continue to be effective in a market environment dominated by airlines under larger corporate structures. Nevertheless, there are no restrictions on our flight operations and all Germania flights continue to be operated as planned," the carrier said.
Germania added that it was hit by a Summer 2018 spike in fuel prices, the depreciation of the euro against the US dollar, delays in deliveries of new aircraft, as well as an "unusually high" number of maintenance events.
Germania, Bulgarian Eagle (Sofia), and MRO provider Germania Technik are currently wholly-owned by the carrier's CEO, Karsten Balke. Germania Group also has a 40% stake in Switzerland's Germania Flug (Zurich). While so far unsuccessful in finding investors, the group is reportedly willing to sell individual units as well as the entire business.
According to the ch-aviation fleets module, Germania currently operates seventeen A319-100s, six A321-200s, and six B737-700s. It is in the process of phasing out the Boeing jets in favour of twenty-five Pratt & Whitney PW1100G-powered A320neo, due to deliver from 2020. For its part, Bulgarian Eagle operates two A319s while Germania Flug operates two A319s and one A321-200.
