UK based Cargologicair has suspended its Operating Licence and its AOC voluntarily for three months, after rumours that it was preparing for liquidation circulated last week. the carrier was understood to have been accused of a major EASA/CAA safety infraction according to most sources and its addressing those to remain in business, though quite how thats going to work without an income stream is hard to fathom.
Meanwhile Air Cargo Global, based in Slovakia has strongly denied its gone or going out of business, but is ‘restructuring’ by closing its Frankfurt office.
With China’s industrial production down by 32% in February – a staggering amount that would be considered an economic collapse under most circumstances, smaller air cargo operators are not dealing well with the situation – even mid-sized operators are having a hard time but conversely, some are still maintaining schedules and charters and claiming little has changed.
Once the CoVid-19 Virus scare abates and Chinese production resumes it could cause prices for air freight to soar and they’ll be a sudden if brief lack of capacity again.