Germania (Berlin Schönefeld) has confirmed it has secured sufficient capital needed to cover its medium- and long-term operating requirements.
In a statement issued on Saturday, January 19, the German leisure carrier's chief executive, Karsten Balke, said only that the funds themselves would be available this coming week.
"With regard to our financing efforts, we have received an important commitment today. In total, the financial support now exceeds the initial target amount of EUR15 million euro (USD17.06 million). We should receive the funds in the next week. As a result, both the medium- and long-term viability of Germania Fluggesellschaft as an independent medium-sized airline has been secured," he said.
However, Balke added that despite the lifeline, Germania would likely have to adjust its strategic growth plans in order to remain competitive. Despite the recent risk, he said the airline's booking situation was "good" with advance booking figures for the coming months and for the entire 2019 summer schedule above those for 2018.
"Therefore, passengers, suppliers, and contractual partners can continue to rely on the efficiency of Germania Fluggesellschaft in the future," he said.
Earlier this month, Germania blamed its liquidity woes on a Summer 2018 spike in fuel prices, the strengthening US dollar, delays in deliveries of new aircraft, as well as an "unusually high" number of maintenance events.
