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Cargo B Airlines has been forced to cease operations with immediate effect.
Niek van der Weide, commercial executive VP, said the Belgian freighter airline had been doing its utmost to attract new investors, but had been unable to find sufficient funds to warrant a continuation of the operation.
He said load factors had been on target, but yields were insufficient to cover the carrier’s costs.
In a letter to customers he said: “The present economic climate, with no improvements foreseen in the near future, and the strong competition resulting in sometimes very low rates, means we cannot expect major improvements in the short term.”
Cargo B Airlines has been forced to cease operations with immediate effect.
Niek van der Weide, commercial executive VP, said the Belgian freighter airline had been doing its utmost to attract new investors, but had been unable to find sufficient funds to warrant a continuation of the operation.
He said load factors had been on target, but yields were insufficient to cover the carrier’s costs.
In a letter to customers he said: “The present economic climate, with no improvements foreseen in the near future, and the strong competition resulting in sometimes very low rates, means we cannot expect major improvements in the short term.”
