Heavylift Engineering RIP ?? (merged)
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From todays Air Transport News
UK freight operator HeavyLift Cargo Airlines has ceased trading and executives at the company are discussing options for the firm with its investors.
Collapse of the company follows the closing-down of its sister passenger operation Prime Airlines which was grouped with HeavyLift Cargo Airlines under the umbrella organisation HC Airlines. HC Airlines held the companies’ air operators certificate (AOC).
HeavyLift Aircraft Engineering, based at Southend Airport near London, was put into administration last week but has now also been forced to close after UK CAA regulatory demands thwarted attempts to keep the operation running.
A spokeswoman for the London Stansted-based company says: “HeavyLift Cargo Airlines is no longer trading and is in discussion with its financial backers.”
HeavyLift’s main financial support comes from banking group Barclays but the company has also received the backing of US investors. The company was acquired, along with its maintenance division HeavyLift Aircraft Engineering, by its management team in a buyout three years ago.
HeavyLift Cargo Airlines was formed as an outsize freight operator in 1980 using five ex-Royal Air Force Shorts Belfast freighters, an aircraft type which the company has retained through its 22-year existence.
It expanded this fleet to include other specialised freight aircraft - including Boeing 707s, Ilyushin Il-76s, Antonov An-12s, Airbus A300s - and about a decade ago teamed with Russian outsize cargo company Volga-Dnepr to market Antonov An-124 freighter capabilities. The current status of HeavyLift’s fleet is unclear.
HeavyLift’s marketing partnership with Volga-Dnepr collapsed last year and HeavyLift tied up instead with Air Foyle, the UK-based marketing arm for Ukraine’s Antonov Airlines, through a joint venture named Air Foyle HeavyLift which now markets cargo services using Antonov An-124 and An-225 aircraft. HeavyLift is keen to point out that this joint venture is still operating and insists that it is not under threat.
UK freight operator HeavyLift Cargo Airlines has ceased trading and executives at the company are discussing options for the firm with its investors.
Collapse of the company follows the closing-down of its sister passenger operation Prime Airlines which was grouped with HeavyLift Cargo Airlines under the umbrella organisation HC Airlines. HC Airlines held the companies’ air operators certificate (AOC).
HeavyLift Aircraft Engineering, based at Southend Airport near London, was put into administration last week but has now also been forced to close after UK CAA regulatory demands thwarted attempts to keep the operation running.
A spokeswoman for the London Stansted-based company says: “HeavyLift Cargo Airlines is no longer trading and is in discussion with its financial backers.”
HeavyLift’s main financial support comes from banking group Barclays but the company has also received the backing of US investors. The company was acquired, along with its maintenance division HeavyLift Aircraft Engineering, by its management team in a buyout three years ago.
HeavyLift Cargo Airlines was formed as an outsize freight operator in 1980 using five ex-Royal Air Force Shorts Belfast freighters, an aircraft type which the company has retained through its 22-year existence.
It expanded this fleet to include other specialised freight aircraft - including Boeing 707s, Ilyushin Il-76s, Antonov An-12s, Airbus A300s - and about a decade ago teamed with Russian outsize cargo company Volga-Dnepr to market Antonov An-124 freighter capabilities. The current status of HeavyLift’s fleet is unclear.
HeavyLift’s marketing partnership with Volga-Dnepr collapsed last year and HeavyLift tied up instead with Air Foyle, the UK-based marketing arm for Ukraine’s Antonov Airlines, through a joint venture named Air Foyle HeavyLift which now markets cargo services using Antonov An-124 and An-225 aircraft. HeavyLift is keen to point out that this joint venture is still operating and insists that it is not under threat.
