Low-cost provider Germania has slipped into administration and cancelled all flights with fast impact.
The choice will see sister upkeep firm Germania Technik Brandenburg additionally file for insolvency at Amtsgericht Berlin-Charlottenburg.
The Berlin-based airline, which flew to locations throughout Europe, Africa and the Center East, transported greater than 4 million passengers a 12 months.
Swiss airline Germania Flug and Bulgarian Eagle are usually not affected by the step.
Employees on the German provider have been knowledgeable of the choice.
Karsten Balke, chief govt, Germania Fluggesellschaft, mentioned: “Sadly, we had been finally unable to convey our financing efforts to cowl a short-term liquidity have to a optimistic conclusion.
“We very a lot remorse that consequently, our solely choice was to file for insolvency.
“It’s after all the affect that this step may have on our workers that we remorse essentially the most.
“All of them as a staff at all times did their finest to safe dependable and secure flight operations – even within the anxious weeks behind us.
“I wish to thank all of them from the underside of my coronary heart.
“I apologise to our passengers who now can’t take their Germania flight as deliberate.”
Passengers affected by the suspension of flight operations who booked their Germania flight as a part of a package deal vacation are suggested to contact their tour operator with a view to organise new flights.
Passengers who booked straight with Germania are, nevertheless, not entitled to rebooking.
Germania’s short-term liquidity want emerged primarily as a consequence of unforeseeable occasions, the provider mentioned.
These embrace will increase in gas costs final summer season and the simultaneous weakening of the euro towards the US greenback.
There have additionally been appreciable delays in phasing plane into the fleet on the provider and an unusually excessive variety of upkeep occasions.