PhilSquares
Topic Author
Posts: 3371
Joined: Sun Mar 28, 2004 6:06 pm

Gemini Air Cargo-CH 11

Thu Mar 16, 2006 2:32 pm

Another bankruptcy filing

http://www.gac-cargo.com/newsstory.html
Fly fast, live slow
 
crownvic
Posts: 1730
Joined: Wed Oct 20, 2004 10:16 pm

RE: Gemini Air Cargo-CH 11

Thu Mar 16, 2006 4:07 pm

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.
 
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LTU932
Posts: 13070
Joined: Fri Jan 06, 2006 12:34 am

RE: Gemini Air Cargo-CH 11

Thu Mar 16, 2006 6:09 pm

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.
 
wjcandee
Posts: 5129
Joined: Mon Jun 05, 2000 12:50 am

RE: Gemini Air Cargo-CH 11

Thu Mar 16, 2006 6:25 pm

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.
 
LAXintl
Posts: 20183
Joined: Wed May 24, 2000 12:12 pm

RE: Gemini Air Cargo-CH 11

Thu Mar 16, 2006 7:17 pm

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
 
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kc135topboom
Posts: 10997
Joined: Sun Jan 30, 2005 2:26 am

RE: Gemini Air Cargo-CH 11

Thu Mar 16, 2006 7:49 pm

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

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