Germania airline says filed for bankruptcy, cancels all flights

Berlin-based airline Germania has filed for bankruptcy and cancelled all flights with immediate effect, the company said early Tuesday.

The airline with 37 aircraft had flown mainly Mediterranean, North African and Middle Eastern holiday routes for German sun-seekers on package trips, and said it transported over four million passengers a year.

"Unfortunately, we ultimately failed to successfully complete our financing efforts to meet short-term liquidity needs," said managing director Karsten Balke in a statement.

"We very much regret that, as a consequence, we had no choice but to file for bankruptcy."