Berlin’s Germania airline has gone bankrupt, announcing on Tuesday the cancellation of all its flights, including those to and from Israel.

The low-cost airline provided routes to some 140 destinations in Europe, Africa, and the Middle East, and offered full-service flights including food and baggage. The 37-aircraft airline flew around 4 million passengers a year.

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

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

Germania airlines entered the Israeli air market in March 2015 with the opening of a route from Ben Gurion Airport to Hamburg. Later, routes were opened from Ben Gurion Airport to Dusseldorf, Nuremberg and Berlin.