The meaning of a thing or a process points to the sense of a linguistic expression. In everyday language, the meaning of "broke" (German: "pleite") refers to the insolvency of a company, but it can also apply to individuals. You can only learn more once you know exactly which of these two the meaning of "broke" applies to.
Being broke means that insolvency has been reached. The German word also comes with various set phrases like "Pleite machen" (to go bust), "pleite gehen" (to go broke) and "pleite sein" (to be broke). These expressions for going broke point to the fact of a failure. In the past, this gave rise to the "Pleitegeier" (literally "bankruptcy vulture"), a proverbial term for bankruptcy. The "Pleitegeier" stands as a symbol of bankruptcy, but it literally means "bankruptcy goer" and so has nothing to do with the vultures of the animal kingdom. This is also how the mockery came about of calling a businessman who has gone insolvent a "Pleitier" (a bankrupt).

What does going broke mean for an airline?

If, for example, an airline files for insolvency, that is, goes bankrupt, alarm bells start ringing for everyone affected, meaning travelers as well as the airline's business partners. Travelers or vacationers who have planned a trip or even a vacation with this airline are left with anxious questions once the bankruptcy is announced. Examples include: Is there perhaps still a way out of the crisis so that my vacation can still be secured? Will an investor perhaps come forward to take over the airline along with its obligations to travelers? Will operations be shut down and all flights canceled?
These anxious questions are entirely justified, as they express the concern of those affected and can come with financial losses for those who have already paid for a future service from the company.

Broke meaning

The new meaning of going broke

Right now, brought on by the Covid crisis, we have a serious situation in which companies go bankrupt through no fault of their own. This is a new meaning of going broke, one that has never existed in our society before. It is well known that bankruptcy results from insolvency. That is the case here, too. But what is new about the whole thing is that the companies can do absolutely nothing about it, because all contact was banned. In bankruptcies before this pandemic, companies threatened with bankruptcy still had the option of doing something about it. But today nothing works anymore: once government support is used up and no new support follows, that is the end. Over. Broke. That is the new meaning of going broke, and only a restart of the economy can help. But even with the restart, some companies will not manage to avert bankruptcy. The losses are too great.