Berlin-based Germania is considering financing options to ensure its short-term liquidity needs in reaction to rising fuel prices, a weakened euro and delays in bringing aircraft into its fleet.

“We are focusing on the central question of how we can continue to be effective in a market environment dominated by airlines under larger corporate structures,” the privately owned airline said in a statement. “Nevertheless, there are no restrictions on our flight operations and all Germania flights continue to be operated as planned.”

The carrier said European commercial aviation has undergone major changes recently and 2018 was a particularly challenging year.

“Unforeseeable events such as the massive increases in fuel prices last summer and the simultaneous weakening of the euro against the US dollar were major burdens for our company, as were considerable delays in phasing aircraft into our fleet and an unusually high number of maintenance events that our aircraft required,” the carrier said.

Germania responded to market changes as a result of consolidation in the German aviation industry following airberlin’s 2017 insolvency by offering more routes.

In 2016 Germania placed a firm order for 25 Airbus A320neos, with options on a further 15 aircraft, in a deal valued at $2.7 billion. Delivery are scheduled to begin in 2020.

Germania transports more than 4 million passengers annually and operates from 18 European airports to more than 60 destinations in Europe, North Africa and the Middle East.

Together with its Switzerland-based airline, Germania Flug AG, and Bulgarian Eagle subsidiary, the carrier operates 37 aircraft.

Kurt Hofmann