aviation expert Heinrich feared large bongardt that the crisis of Germania goes much deeper than the official Statements from the airline on the first glance suggests. “One must have serious doubts as to whether Germania is yet to experience the summer,” he told the MIRROR. “In recent years, the company has flown in more than 50 million euros in losses. Since the air is no longer enough at some point”.
As published in the Federal Gazette annual financial statements, had recorded in Berlin-based airline in 2016, a loss of 7.7 million Euro, in 2015, the Minus amounted to 6.8 million euros. The Germania investment company, owner of the Germania, generated according to the annual financial statements for 2016, a shortfall of 32 million euros. Annual financial statements for 2017 and 2018, the Germania are not published in the Federal Gazette yet.
The current crisis will have a direct impact on the Postings, added large bongardt. Consumers have the Bankruptcy of Air Berlin in memory. “They are three times superior with whom you fly to the Canary Islands.” According to the “Handelszeitung” has already decided of the tour operator, Hotelplan Suisse, as of now, no flight tickets from Germania to offer.
Risky niche strategy
bring A slump in the booking numbers, but would Germania directly in Need. “The current business of such carriers will be financed from the advance bookings. The need to bring liquidity. But if bookings break for the summer now, will have an impact immediately on the cash register.”
so Far, Germania tried to assert itself as a medium-sized company with a 3-pillar strategy against the Big players in the industry. They handle the traffic for Airbus Hamburg and Toulouse, chartering a part of their machines – and offer a niche line of flights – for example in Kosovo or in Georgia. “This can work for a long time,” explains big bongardt. But if a niche well-developed, fast, strong competitors in the game.”
Acute financial crisis at #Germania https://t.co/Bkh2Ek3P6V
— aeroTELEGRAPH (@aeroTELEGRAPH) 8. January 2019
basically, the expert assessed the Situation more critical than in the case of Air Berlin last year. “Air Berlin had attractive lines, which were very much in demand. It is seen in Germania.” The urgently necessary renewal of the fleet don’t make the Situation easier. “Germania is not getting determined the best terms from Lenders – in this situation.”
Germania had announced on Tuesday evening that she is in urgent need of money. The Airline check “currently several options for a financing to secure short-term liquidity needs”, – stated in the message.
The air-travel-Portal “Aerotelegraph” according to a sale of the company, is also conceivable. The search for new shareholders, but so far have been unsuccessful. According to the report, Germania needed shortly before the turn of the year, 20 million Euro, to be able to continue to fly. A Germania spokeswoman did not comment on the information, on this Wednesday morning.