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Germania: preliminary insolvency administrator committed to investor solution

02/08/2019 - Berlin

Berlin, 8 February 2019. Initial progress has been made in the preliminary insolvency proceedings concerning Germania Fluggesellschaft mbH, Germania Technik Brandenburg GmbH and Germania Flugdienste GmbH: the preliminary insolvency administrator Rüdiger Wienberg is holding talks with interested parties regarding possible takeover scenarios. Meanwhile, the German Employment Agency has approved the pre-financing of the outstanding January salaries, meaning that the approximately 1,700 employees will receive their money within the next few days.

“Our primary objective is to keep the airline operational so that we do not lose the take-off and landing slots”, said Wienberg. “This is the prerequisite for a solution that will preserve Germania’s business operations either in full or in part.” In particular, this sort of solution requires fully intact infrastructure, i.e. operational aircraft, crews and maintenance services. In order to ensure this, Wienberg is currently involved in talks with the German Federal Aviation Authority (Luftfahrtbundesamt) and the lessors of the 27 Germania aircraft. Wienberg has also already made contact with potential investors.

Marking an initial key step, Germania Technik Brandenburg GmbH’s operating licence has been maintained in consultation with the Federal Aviation Authority. The company, with a workforce of 178, mainly manages the Germania fleet, but also handles aircraft belonging to other airlines. This means that the Germania aircraft can continue to be maintained and kept ready for operation. At the same time, advanced negotiations are under way with the lessors to ensure continued operations during the preliminary insolvency proceedings.

The employment contracts of the approximately 1,700 employees of the three companies will remain in force unchanged; no notices of termination have been issued. Depending on operational requirements, the employees will continue working in the future, too. Some of the flight crew (around 400 pilots and 580 flight attendants in total) are currently still busy parking the airline's 27 aircraft. In addition, the aircraft must be airborne every two weeks to stop their operating licence from expiring. Some of the crew members are also to be deployed for this purpose.

Efforts to allow passengers stuck at their destinations to return home are also making progress. Germania is in constant contact with the tour operators in order to help them rebook passengers on alternative flights. In cases involving direct bookings, Germania has made anonymous lists, setting out the number of passengers, departure airport and destination, available to other airlines to make it easier for them to plan.

The airline Germania had filed for insolvency last Monday (February 4). The preliminary insolvency proceedings include Germania Fluggesellschaft mbH (1,426 employees), Germania Technik Brandenburg mbH (178 employees) and Germania Flugdienste GmbH (74 employees). The Swiss company Germania Flug AG and Bulgarian Eagle are not affected by the insolvency.

 

About Germania

Germania is an independent German airline with a history that goes back more than 30 years. The airline with the green and white logo carries more than 4 million passengers per year on short-haul and medium-haul flights. Germania offers connections from 18 departure airports in Europe to over 60 destinations within the continent, in North Africa and the Middle East. Reversing the common industry trend, Germania continues to offer complimentary snacks, soft drinks, magazines and a minimum of 20 kg free baggage allowance. Germania’s business model combines scheduled, charter and ad-hoc flights. Together with Bulgarian Eagle and the Swiss airline Germania Flug AG, Germania operates a fleet of currently 37 aircraft. Germania Technik Brandenburg GmbH is responsible for the company's aircraft maintenance. www.flygermania.com

 

About hww hermann wienberg wilhelm

hww hermann wienberg wilhelm is one of the leading service providers specialising in legal advice, restructuring, insolvency and receivership in Germany. With several hundreds of employees, hww is represented in more than 20 cities in Germany and has its own international network.  Insolvency administrators from hww hermann wienberg wilhelm have been appointed by numerous insolvency courts throughout Germany in thousands of insolvency proceedings over the years. High-profile proceedings involving the law firm include the insolvencies of Holzmann, Karman, Q.Cells, topbonus and SOLON. www.hww.eu

 

Press contact:

Sebastian Glasermöller pr GmbHTel.: +49 (0)221 80 10 87 80Mobile: +49 (0)176 53 80 82 42e-mail: sg@moeller-pr.dewww.moeller-pr.de

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