The end of Cargo B?

[ehusmann]

Just read on Airliners.net that Cargo B is nearing bankruptcy. Apparantly a decision will be made today about the future.
But also, it says "both" planes are currently parked in Amsterdam (the "both" refers to both B747-400F). Is this true?

Erwin

[air-bus]

True, OO-CBC is on the sierra's and OO-CBD is in H11 for maintenance.

Regards,
Arno

[Boudewijn van Oirschot]

It is nearly done with Cargo B unless a new investor will be found.

I just read this:
"Due to extended maintenance works on OOCBB in AMS,
-wing to body fairing repair- flight BB1301-2/1-2JUL will
be cancelled."

Only if their aircraft are back in service, and some new shareholders are found, Cargo B can make a restart.
Cargo B was funded through PMV (a group of 50 investors from Petercam Services), QAT II Investments and QAT Arkiv with a fund of 20 million EUR. Last year a new shareholder, the NYK holding, which also operates in the port of Zeebrugge and also owner of Nippon Cargo Airlines (NCA), funded another 7 million EUR into Cargo B Airlines. The capital of 27 million EUR is completely used.

Cargo B was already weak before the crisis, but now in economic crisis it is real bad and it is struggling as most cargo companies, unfortunately

[SGB]

Weet niet helemaal of dit de juiste plek is, maar ik heb het nog nergens anders gelezen, en aangezien er de hele vloot op AMS staat, Cargo B heeft zojuist bekend gemaakt dat ze het bijltje er bij neer hebben gegooid, vanwege de huidige en verwachte economische omstandigheden was het niet meer bol te werken voor hun.

[Erik Rutjes]

Weet niet helemaal of dit de juiste plek is, maar ik heb het nog nergens anders gelezen, en aangezien er de hele vloot op AMS staat, Cargo B heeft zojuist bekend gemaakt dat ze het bijltje er bij neer hebben gegooid, vanwege de huidige en verwachte economische omstandigheden was het niet meer bol te werken voor hun.

Volledige artikel in "De Tijd".

http://www.tijd.be/nieuws/ondernemingen ... 27-431.art" onclick="window.open(this.href);return false;

Erik

[Thijs]

It is nearly done with Cargo B unless a new investor will be found.

You can have as many investors if you want, but an air cargo company makes money with flying cargo around. And at this moment cargo flows have are (very) thin. Still Air Cargo is one the most expensive ways to transport your cargo, so exporting companies choose for sea transport, when possible. So in the end their isn't that much cargo for air transport. Within the mature air cargo companies there is also enough (too much) capacity so when cargo flows increase it is very easy for those guys to anticipate. The easiest way to make much money (as a newbie) in a short time period is when there is a shortage of capacity.

So in the end money isn't the problem, there is just less cargo as expected to be by the management.

[frank kramer]

According to Belgian national television (20.00 lt), Cargo B has been unsuccesful in finding new investors and is to cease flying completely by tomorrow, July 2. No decision on the fate of their aircraft or the 60 personnel (mostly pilots) has been taken as yet but staff was informed today and a restart seems highly unlikely. It appears that both ships at EHAM are to stay for a while (or will be shipped out to another location on behalf of the lessors).

As Queen once put it, "another one bites the dust"

[Key]

Two posts in Dutch split from EHAM topic.

[Hurricane]

Both 744F's are expected to return to NCA ... (can they use them @ this moment?)

credits to Skyliner.de

Adios,

Hurricane

[Derice]

Cargo B has been declared bankrupt: http://www.luchtvaartnieuws.nl/news/def ... l&id=31285" onclick="window.open(this.href);return false; (Dutch article).