ITALY's Cargoitalia - a the
cargo spin-off of the old Alitalia airline - has ceased operations, telling
customers it will go into liquidation after suffering mounting losses, reports
US Cargo News (Flying Typers).
The Milan-based company said
the decision to establish a "Cargolux Italia" subsidiary with four
weekly freighter flights via Malpensa-Hong Kong on B747-400F aircraft hurt
Cargoitalia and seriously damaged its prospects.
Cargoitalia operated three
MD-11 freighters and had signed firm orders for five A330-200Fs. It was only
until recently that the heavily indebted carrier changed its strategy by
reducing line-haul flights and offering customers ACMI solutions together with
a new charter product called "Ondemand".
Cargoitalia also partnered
with Togo's cargo carrier Africa West, operating flights between Liege and
Lome, as well as moving European exports into West Africa's regional network in
the Ivory Coast, Ghana, Nigeria, Cameroon and Angola.
The company helped out
Lufthansa Cargo by offering additional capacity on US-bound flights out of
Germany. This deal expired before Italian carrier's financial crash.
Alis Aerolinee Italiane
purchased the carrier in December 2008 for US$18.8 million, mainly to get the
air operator certificate held by Cargoitalia. Flights were resumed in May 2009
with a single MD-11F. Two passenger-to-freighter conversions from Alitalia's
stock increased the fleet.
Source : HKSG, 06.01.12.
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