Information on CargoLifter ?

[norodnik]

Anyone know the situation with CargoLifter

(not Cargolux)

I had heard they were going bust, or possibly in talks with other companies. Seems they have large debts and will find it hard either to restructure or continue operations.

Thanks in advance

[ID90]

Yes I believe CargoLifter went under after the German Government decided against bailing them out last summer.
Last I heard, around a month ago, Universal Express had signed a letter of intent to acquire the assets of the bankrupt CargoLifter company, but don't know what their intentions are.

[norodnik]

ID90, I had heard the same thing

but in looking at Universal Express, they have no cash and no experience in the cargo industry.

It would be interesting to know the sturcture of the supposed deal.