In an attempt to challenge the pre-eminence of Lufthansa Cargo on the German air freight market, Air Cargo Germany was founded in 2008 by former LTU executives Michael Bock and Thomas Homering.[1] The company with its headquarters at Frankfurt–Hahn Airport had its airline licence issued on 14 July 2009.[2]
From the beginning, ACG had strong ties to Russian entrepreneurs, as much of the initial funding was provided by Rashid Mursekaev, a co-founder of VIM Airlines, and the business administration comprised a number of former Aeroflot-Cargo managers.[1] Later, a co-operation with Volga-Dnepr Airlines and its subsidiary AirBridgeCargo Airlines was set up,[1] which saw Volga-Dnepr acquiring a 49 percent stake in Air Cargo Germany in April 2012,[2] the maximum allowed under EU rules for foreign ownership. To offer a joint network of some kind, ACG moved a number of its flights to Frankfurt Airport, which was already served by AirBridgeCargo,[1] and began to focus its operations on Moscow-Sheremetyevo Airport.[3]
According to EU regulations, airlines are required to provide evidence that they have sufficient financial resources for the next 12-month period.[1] As Air Cargo Germany failed to do so at a Luftfahrt-Bundesamt (the German civil aviation authority) audit, it had its operating permit withdrawn and suspended all flight operations on 18 April 2013.[4][5] Subsequently, on 3 May, insolvency was declared.[6] In 2009, Air Cargo Germany had been granted loans by the German state of Rhineland-Palatinate and the operating company of Frankfurt-Hahn Airport (of which 82.5 percent are owned by Rhineland-Palatinate, too), accumulating to a total of €10 million. With ACG going bankrupt, this taxpayers' money is considered a default.[7]
Plans for a relaunch[8] did not materialize. As the legal maximum of ACG's shares (49 percent) were already owned by Russian (that is, non-EU) companies, the only possibility to acquire the needed equity funding would have been to find an investor from an EU member state. According to analysts, the initial suspension of its operations had led to Air Cargo Germany losing most of its freight transport contracts, which was further hampering any efforts to regain the necessary market trust.[1] On 4 September 2013, it was reported that all 120 employees had been dismissed, bringing an end to the history of Air Cargo Germany.[9]
Destinations
In August 2012, Air Cargo Germany operated scheduled flights to the following destinations:[3]
cargo, germany, gmbh, abbreviated, german, cargo, airline, based, frankfurt, hahn, airport, operational, between, 2009, 2013, iata, icao, callsign6u, loadmasterfounded2008commenced, operations2009ceased, operations2013operating, basesfrankfurt, hahn, airportfl. Air Cargo Germany GmbH abbreviated ACG was a German cargo airline Based at Frankfurt Hahn Airport it was operational between 2009 and 2013 Air Cargo GermanyIATA ICAO Callsign6U ACX LOADMASTERFounded2008Commenced operations2009Ceased operations2013Operating basesFrankfurt Hahn AirportFleet size4 at closure HeadquartersFrankfurt Hahn AirportKey peopleMichael Schaecher CEO Thomas Homering managing director 1 Websitewww acg aero Contents 1 History 2 Destinations 3 Fleet 4 References 5 External linksHistory Edit An Air Cargo Germany Boeing 747 400 freighter departing Nuremberg Airport 2012 In an attempt to challenge the pre eminence of Lufthansa Cargo on the German air freight market Air Cargo Germany was founded in 2008 by former LTU executives Michael Bock and Thomas Homering 1 The company with its headquarters at Frankfurt Hahn Airport had its airline licence issued on 14 July 2009 2 From the beginning ACG had strong ties to Russian entrepreneurs as much of the initial funding was provided by Rashid Mursekaev a co founder of VIM Airlines and the business administration comprised a number of former Aeroflot Cargo managers 1 Later a co operation with Volga Dnepr Airlines and its subsidiary AirBridgeCargo Airlines was set up 1 which saw Volga Dnepr acquiring a 49 percent stake in Air Cargo Germany in April 2012 2 the maximum allowed under EU rules for foreign ownership To offer a joint network of some kind ACG moved a number of its flights to Frankfurt Airport which was already served by AirBridgeCargo 1 and began to focus its operations on Moscow Sheremetyevo Airport 3 According to EU regulations airlines are required to provide evidence that they have sufficient financial resources for the next 12 month period 1 As Air Cargo Germany failed to do so at a Luftfahrt Bundesamt the German civil aviation authority audit it had its operating permit withdrawn and suspended all flight operations on 18 April 2013 4 5 Subsequently on 3 May insolvency was declared 6 In 2009 Air Cargo Germany had been granted loans by the German state of Rhineland Palatinate and the operating company of Frankfurt Hahn Airport of which 82 5 percent are owned by Rhineland Palatinate too accumulating to a total of 10 million With ACG going bankrupt this taxpayers money is considered a default 7 Plans for a relaunch 8 did not materialize As the legal maximum of ACG s shares 49 percent were already owned by Russian that is non EU companies the only possibility to acquire the needed equity funding would have been to find an investor from an EU member state According to analysts the initial suspension of its operations had led to Air Cargo Germany losing most of its freight transport contracts which was further hampering any efforts to regain the necessary market trust 1 On 4 September 2013 it was reported that all 120 employees had been dismissed bringing an end to the history of Air Cargo Germany 9 Destinations EditIn August 2012 Air Cargo Germany operated scheduled flights to the following destinations 3 City Country AirportYerevan Armenia Zvartnots International AirportShanghai China Shanghai Pudong International AirportFrankfurt Germany Frankfurt AirportFrankfurt Hahn Airport base Hanover Germany Hannover AirportAlmaty Kazakhstan Almaty International AirportNairobi Kenya Jomo Kenyatta International AirportMexico City Mexico Benito Juarez International AirportMoscow Russia Sheremetyevo International AirportJohannesburg South Africa OR Tambo International AirportAtlanta United States Hartsfield Jackson Atlanta International AirportChicago United States O Hare International AirportDallas United States Dallas Fort Worth International AirportFleet EditAir Cargo Germany operated four cargo configured Boeing 747 400 aircraft Of these two were owned by Aircastle and were subleased to ACG by Martinair and two were leased by Avion Aircraft Trading 10 References Edit a b c d e f g Solomon Adina 3 June 2013 Air Cargo Germany s future uncertain Air Cargo World Archived from the original on 27 June 2013 Retrieved 17 June 2013 a b Information about Air Cargo Germany Aero Transport Data Bank Retrieved 17 June 2013 a b Current routes Air Cargo Germany Archived from the original on 26 August 2012 ACG Aero Temporary interruption of flight operations Archived 2013 04 22 at the Wayback Machine press release retrieved 20 April 2013 Airliners de Air Cargo Germany setzt Flugbetrieb vorlaufig aus German article retrieved 20 April 2013 Ruckschlag fur den Flughafen Hahn Air Cargo Germany ist insolvent Rhein Zeitung 3 May 2013 Archived from the original on 2013 07 03 Retrieved 17 June 2013 Drohender Kreditausfall durch Air Cargo Germany immer grosser airliners de 17 May 2013 Retrieved 17 June 2013 Lenanne Alex Offer of state support gives little succour to Air Cargo Germany The Loadstar Retrieved 3 May 2013 Insolvente ACG entlasst alle Mitarbeiter aero de 4 September 2013 Retrieved 4 September 2013 Fleet and aircraft information about Air Cargo Germany planespotters net Archived from the original on 21 January 2014 Retrieved 17 June 2013 External links Edit Media related to Air Cargo Germany at Wikimedia Commons Portals Germany Aviation Retrieved from https en wikipedia org w index php title Air Cargo Germany amp oldid 1169188326, wikipedia, wiki, book, books, library,
