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Germania had "no choice" but to declare bankruptcy as a result of financial difficulties, airline CEO Karsten Balke said Tuesday.
The Berlin-based company canceled all flights and advised pbadengers to contact their travel agents to make other arrangements.
People who bought their tickets directly from the company "unfortunately can not qualify for alternative trips," the company said.
Balke blamed bankruptcy for "unforeseen circumstances", such as rising kerosene prices, the devaluation of the euro against the dollar and unusually high maintenance costs.
"Unfortunately, we were finally unable to complete our funding efforts to solve a short-term liquidity problem," he said.
No pay for January
Balke apologized to the pbadengers and congratulated his employees for the quality of their work, "even during the weeks of tension we have just experienced".
The mid-market airline serves more than 60 destinations in Europe, Africa and the Middle East, and carries more than four million pbadengers a year.
After being touted for a monetary windfall of more than 15 million euros ($ 17.16 million) in January, the company said last week that its employees had not received their salaries for the whole month of January.
The bankruptcy of Germania comes more than a year after the bankruptcy of Air Berlin and the cessation of its activities.
dj / amp (dpa, AFP, Reuters)
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