Gemini air cargo "Record-shattering fuel prices" and revenue shortfalls forced the Washington Dulles-based company to file for Chapter 11 protection - for the second time in two years.
To keep operating, it will negotiate an additional loan commitment of up to $14 million from its existing senior lender and seek investors.
Gemini promotes itself as the world's largest operator of McDonnell Douglas DC-10-30F and Boeing MD-11F freighters.
Source: Flight International
Boeing has resumed production of two widebody programmes in the Pacific Northwest following the end of strike action by its machinists’ union last month.
Russia’s Yakovlev and electronic systems specialist KRET have completed development of the autopilot and autothrust algorithms for the SJ-100 twinjet. The SJ-100 is the latest version of the Superjet 100, and features an increased proportion of systems produced domestically rather than by foreign suppliers. Preliminary testing on the ‘electronic bird’ ...
Airbus secured orders for 30 aircraft in November, including 15 A330-900s and five A350-900s, but it has identified none of the three customers involved. The airframer lists the 20 widebodies in its latest backlog figures, along with an order for 10 A321neos. These agreements accounted for Airbus’s entire order activity ...
