America: Gemini latest industry casualty

Gemini Air Cargo’s four freighters are heading back to leasing companies after the airline failed to fly its way out of Chapter 11 bankruptcy protection and shut down. The abrupt grounding of the US carrier on 12 August came after Gemini entered bankruptcy protection in June for the second time in two years. The airline […]


Gemini Air Cargo’s four freighters are heading back to leasing companies after the airline failed to fly its way out of Chapter 11 bankruptcy protection and shut down.

The abrupt grounding of the US carrier on 12 August came after Gemini entered bankruptcy protection in June for the second time in two years. The airline failed to come up with new financing or a buyer since then.

In a statement on its web site Gemini said it "is in the process of permanently winding down its business. After 29 August, 2008, Gemini will no longer be receiving or responding to any inquiries via telephone contact."

Gemini operated four MD-11 freighters for other carriers under "wet lease" contracts, leaving Gemini to cover the aircraft, crew, maintenance and insurance costs. Once owned by the Carlyle Group private equity firm, Gemini served carriers such as Lufthansa, FedEx, British Airways and Finnair.