The Germania airline has filed for bankruptcy, announcing cancellation of all flights, including Berlin-Yerevan direct flights, Armenia’s Zvartnots International Airport wrote on Facebook.

According to the source, the flights were cancelled as the company went bankrupt.

The air carrier explains the need to recognize bankruptcy as the price of kerosene has sharply risen in the past summer, while the euro has dropped dramatically, and there has been a serious slowdown in the supply of airplanes.

Airline needs 15 million euros, due to financial problems in January, it was unable to pay the salary of 1,1 thousand employees. The company has only 37 airplanes, making flights from Dusseldorf and Munich.