The German airlineSlang, with headquarters in Berlin, has presented on Tuesday a voluntary application for bankruptcy, declaring itselfnsolventand bankrupt, and has suspended all itsoperations. The low cost German company has afleetof more than 30 aircraft and transported four millionpassengersin Europe, the Middle East and North Africa.
The insolvency of the airline affects Germania Fluggesellschaft and the companies oftechnical servicesbut not to the Swiss branch Germania Flug AG nor to the Bulgarian Bulgarian Eagle, clarifies the airline in a statement.
The CEO of the company, Karsten Balke, explained that the board had not managed to carry out successfully the steps taken to resolve the lack of liquidity suffered by the company in the short term. "We deeply regret that, as a result, our only option was to declare insolvency," he said.
Balke has regretted the consequences for the company's employees and said that they had given "their best" to ensure the operation of the company. At the beginning of January it transpired that Germania was going through financial difficulties and could not pay the salaries of the employees.
Passengers who booked their Germania flights in a package with hotel included should go to travel agencies to change their flight, while those who bought the Germania flight directly will not be entitled to compensation under current laws, the statement said.
Lufthansa has already offered discount tickets to passengers affected by the new bankruptcy of a German airline, which recalls what happened with what became the second airline in this market Air Berlin, which stopped flying in 2017 because of financial problems and to which was added the charter service company Small Planet Airlines, declared bankrupt last year.
Founded in 1978 under the name of Special Air Transport, it changed its brand to Germania in 1986, based in Berlin since 2009. It offered flights to more than 60 destinations in Europe, North America and the Middle East. The company operated together with its partners in Switzerland and Bulgaria more than 30 medium distance jets.