at 1:11 am on Tuesday morning Germania-flight ST3711 landed from Fuerteventura in Nuremberg, Germany. It was a special flight, did not know the passengers and Crew on Board of the plane. Half an hour later, the German airline announced that it filed for bankruptcy, and the operation of the aircraft by immediately setting.
in January it became known that the Airline had an acute problem with the money and investors are looking for a complete sale. But even if it is recently called, an Investor will have 15 million euros of financial aid – the money did not come. On Friday, Germania had to confess that they can no longer pay the wages.
The Big get bigger
The rapid crash of the airline shows an example of how the industry is. The consolidation in Europe is lacking in full swing, and to whom and to the Size and the financial cushion that runs the risk of a similar fate: Either Bankruptcy or acquisition by a competitor. Pretty sure Germania will not be the last Airline that will disappear this year in Europe sky, while the big Five in Europe continue to gain in Power.
The big Five, which are the Lufthansa group, including Swiss, British Airways parent IAG, Air France-KLM, as well as the low-cost airlines Ryanair and Easyjet. In the past year, your flights accounted for the first time, more than 50 percent of European transport. After the end of Air Berlin, Lufthansa, Ryanair and Easyjet have pushed into the gaps, and the supply is massively increased.
this 50 percent are far from the end, the United States. The market has been cleansing for a long time. After mergers, bankruptcies and Acquisitions, the five largest U.S. Airlines, with about 90 percent of the passenger traffic. For passengers in Europe, such a scenario is, of course, is not desirable. Because: Less competition attracts like rising prices.
But Dying in the sky. The trigger for the problems of many airlines in the toxic Cocktail of high fuel prices last year, price competition on European routes and many delays, the high compensation payments to passengers. Also Germania power of these factors for the financial problems.
is not likely to Much improve the Situation this year. Especially small airlines will then fall to its knees. You with the necessary financial cushion to survive lean periods. This was last year: With azure Air (Germany), Cobalt Air (Cyprus), Primera Air (Latvia), Private Air (Switzerland), Skywork (Switzerland), Small Planet (Germany, Lithuania, Poland) and VLM (Belgium), met a whole handful of smaller providers.
which doesn't leave a lot of room for optimism with regard to the Swiss Germania-daughter. She flies more. However, it is also exposed to this tough environment. And with a fleet of just three Airbus Jets against competitors such as Lufthansa, Swiss, Easyjet and Eurowings are to be anything other than easy. (Editorial Tamedia)
Created: 05.02.2019, 18:14 PM