Germania airline files for insolvency

BERLIN (AA) – Germany's low-cost airline Germania has filed for bankruptcy and stopped all flights, the company said on Tuesday. </p> <p>The airliner’s CEO Karsten Balke said in a statement that the company faced huge challenges due to rising fuel prices and weakening of the euro against the U.S. dollar. </p> <p>“We very much regret that consequently, our only option was to file for insolvency,” he said, adding that all flights were terminated on Monday night. </p> <p>“I apologize to our passengers who now cannot take their Germania flight as planned,” he said. </p> <p>Several German airlines, including Eurowings and Condor announced that they would offer discounted fares for passengers who had purchased tickets from Germania.