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Gemini Air Cargo-CH 11  
User currently offlinePhilSquares From , joined Dec 1969, posts, RR:
Posted (8 years 4 months 2 weeks 2 days 8 hours ago) and read 2454 times:

Another bankruptcy filing

http://www.gac-cargo.com/newsstory.html

5 replies: All unread, jump to last
 
User currently offlineCrownvic From United States of America, joined Oct 2004, 1864 posts, RR: 5
Reply 1, posted (8 years 4 months 2 weeks 2 days 7 hours ago) and read 2410 times:

Didn't hear about this until now. Kind of surprising considering that the freight carriers seem to be the ones making the money these days. Thank you for the information.

User currently offlineLTU932 From Germany, joined Jan 2006, 13864 posts, RR: 50
Reply 2, posted (8 years 4 months 2 weeks 2 days 5 hours ago) and read 2341 times:

Certainly a surprise. I never figured GR to be an airline in need of a Chapter 11 restructuring. I wish them the best and hope they don't go under.

User currently offlineWjcandee From United States of America, joined Jun 2000, 5114 posts, RR: 22
Reply 3, posted (8 years 4 months 2 weeks 2 days 5 hours ago) and read 2330 times:

Prepackaged bankruptcy -- they hope to be in and out quickly, with no disruptions whatsoever. Of course, that's what everyone hopes and it doesn't always work that way. We'll see.

User currently offlineLaxintl From United States of America, joined May 2000, 24855 posts, RR: 46
Reply 4, posted (8 years 4 months 2 weeks 2 days 4 hours ago) and read 2302 times:

The lack of news or hints from Gemini is a result of the company being privately held and not being required to file public SEC documents.

I know Gemini has lost a significant amount of flying it used to do from Miami formerly having several DC-10s based there. In addition funnily enough I did see some required DOT reports last year and remember thinking Gemini pays quite a premium for its MD-11 leases which predate 9/11, compared to others in the industry.



From the desert to the sea, to all of Southern California
User currently offlineKC135TopBoom From United States of America, joined Jan 2005, 12128 posts, RR: 51
Reply 5, posted (8 years 4 months 2 weeks 2 days 3 hours ago) and read 2278 times:

Wasn't UPS looking at buying them not to long ago?

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