Yesterday was the last day of operation for the airline Germania, which for many years has been providing summer flights between German regional airports and holiday destinations such as Rhodes and Kos. This was foreseen and late last year I gave the uncertainty over Germania as my reason for delaying the publication of the flight tables for summer 2019 between Germany and Rhodes.
If anyone has booked despite this, I’m afraid there is no compensation, and only a place in the very long queue of creditors, unless it was as part of a package holiday, in which case the holiday company is responsible for arranging alternative flights.
Note that Germania Flug, the Swiss arm of Germania, is still flying as a separate company.
It really isn’t a good time for airlines – even Ryanair has reported a small trading loss, while Iceland’s WOW Air has made massive cutbacks to its operations, Turkmenistan Airlines has been banned from operating into the EU on safety grounds, and Norwegian is cutting back on its short-haul flights to reduce the number of planes used. The surplus planes this produces will then be sold to reduce debt.