from aircargonews
DAS Air Cargo’s remaining assets have been bought by Continental Aviation Services (Nigeria), in a deal that saves the airline from extinction.
As exclusively revealed in Air Cargo News in early November, the administrators of the airline, Menzies Corporate Restructuring, struck a deal a few weeks back, and the new owner finally put pen to paper on 20 November.
According to DAS Air’s commercial/operations manager, Malcolm Higginson, Continental Aviation Services is incorporated in Nigeria and will establish a new UK division named Continental Aviation Services (UK) Ltd. Higginson says the company is well funded and has expertise in cargo operations.
Continental Aviation Services (Nigeria) is a majority shareholder (70 per cent) of Afrijet the Nigeria-based passenger and cargo airline.
Afrijet currently has two Fokker F-27s on its books, but has also recently operated a B727F to supplement its cargo services.
Higginson said that “all the assets of DAS Air have been sold. The debt, however, remains with DAS Air Ltd and is in the hands of the administrators”.
He added that “as from now myself and the other 33 staff that work at our two sites at Crawley and Manston airport are employees of Continental Aviation Services”.
Higginson said that the initial plans involved getting the sole remaining DC-10 up and flying again and re-establishing the route network. “The Ugandan registration will end and we will be looking for a new approval. It is most likely that the aircraft will be registered in Nigeria. We are also looking to lease a second aircraft to help re-start scheduled and ad-hoc operations.”
He added more will be revealed soon, however, the company’s energy for now is focussed on setting up CAS(UK) Ltd.
In the longer term the airline is looking at options to re-equip with more modern aircraft. “Operating DC-10s with current fuel prices, is extremely challenging,” admitted Higginson.