The fictitious airline is Erebus Air, after Mount Erebus, a volcano in Antarctica. On 28 November 1979, Air New Zealand Flight 901 crashed into the side of the mountain, killing all 257 passengers and crew aboard. Most of the wreckage remains on the mountain.
Some promotional materials claim the film is based on a true story. It seems to be loosely based on British Airways Flight 9. In 1982, flight 9 flew through a cloud of volcanic dust near Jakarta, causing complete engine failure and damaging the cockpit windows. The pilots were able to restart the engines and landed safely.
The movie is part of the notorious german "SchleFaZ" series. Thus, it was aired November 2014 on german TV station Tele5. ("SchleFaZ" is a german abbreviation, means "the worst films ever". In that series 2 hosts present the whole flick - and make fun of it throughout the movie...)
When they open the cabin door to unblock engine 2, the open door would adversely affect the plane's aerodynamics and potentially asphyxiate the passengers and crew as volcanic ash enters the cabin.
The film does not have a Wikipedia page.