Gemini Air Cargo
Encyclopedia
Gemini Air Cargo was an American
ACMI (Aircraft, Crew, Maintenance, & Insurance) cargo airline
headquartered in Dulles
, Virginia
, USA
. It operated worldwide cargo schedules and charters on a wet-lease
basis.
Its main bases were Miami International Airport
and John F. Kennedy International Airport
, New York
.
In July 1999 the airline was acquired by the Carlyle Group. In August 2006 the airline emerged from bankruptcy reorganization in a debt restructuring involving a DIP (debtor in position) and exchange of debt for equity with Bayside Capital. Bayside had pledged to grow Gemini and take advantage of the fast growing cargo market into the next two decades.
But in the early summer of 2008 Gemini filed again for bankruptcy
protection. The reasons were to be found in the sudden oil price increase that hit hard the thirsty
McDonnell Douglas DC-10-30F
fleet and the economic crisis of 2008.
Gemini Air Cargo ceased operations the evening of August 12th, 2008 and the airline later confirmed that month it was in liquidation
.
As of December 2008, Gemini Air Cargo was purchased by Gemini Worldwide Holdings LLC with plans to start a new cargo/passenger service as Gemini Worldwide Airways. Operations have not started as of early 2010. Visit the Gemini Worldwide Airways site for more information.
McDonnell Douglas MD-11F
and the
McDonnell Douglas DC-10-30F
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
ACMI (Aircraft, Crew, Maintenance, & Insurance) cargo airline
Cargo airline
Cargo airlines are airlines dedicated to the transport of cargo. Some cargo airlines are divisions or subsidiaries of larger passenger airlines.-Logistics:...
headquartered in Dulles
Dulles, Virginia
Dulles, Virginia is an unincorporated area located in Loudoun County, Virginia, part of the Washington Metropolitan Area. The headquarters of Orbital Sciences Corporation, GeoEye, and ODIN technologies and the former headquarters of MCI Inc...
, Virginia
Virginia
The Commonwealth of Virginia , is a U.S. state on the Atlantic Coast of the Southern United States. Virginia is nicknamed the "Old Dominion" and sometimes the "Mother of Presidents" after the eight U.S. presidents born there...
, USA
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. It operated worldwide cargo schedules and charters on a wet-lease
Wet lease
Aircraft leases are a number of types of leases used by airlines and other aircraft operators. Airlines lease aircraft from other airlines or leasing companies for two main reasons; to operate aircraft without the financial burden of buying them, and to provide temporary increase in capacity...
basis.
Its main bases were Miami International Airport
Miami International Airport
Miami International Airport , also known as MIA and historically Wilcox Field, is the primary airport serving the South Florida area...
and John F. Kennedy International Airport
John F. Kennedy International Airport
John F. Kennedy International Airport is an international airport located in the borough of Queens in New York City, about southeast of Lower Manhattan. It is the busiest international air passenger gateway to the United States, handling more international traffic than any other airport in North...
, New York
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
.
History
The airline was established in December 1995 by William Stockbridge, with financial backing from Lehman Brothers and Green Tree Capital. It began operations as an ACMI (Aircraft, Crews, Maintenance, Insurance) using DC-10-30F aircraft which were obtained from Lufthansa and converted to cargo configuration by Aeronavali in Venice. Prior to obtaining its own FAR Part 121 certificate, Gemini operated with crews from Sun CountySun Country Airlines under Sun Country's certificate for several months before certification in October 1996.In July 1999 the airline was acquired by the Carlyle Group. In August 2006 the airline emerged from bankruptcy reorganization in a debt restructuring involving a DIP (debtor in position) and exchange of debt for equity with Bayside Capital. Bayside had pledged to grow Gemini and take advantage of the fast growing cargo market into the next two decades.
But in the early summer of 2008 Gemini filed again for bankruptcy
Bankruptcy
Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....
protection. The reasons were to be found in the sudden oil price increase that hit hard the thirsty
McDonnell Douglas DC-10-30F
McDonnell Douglas DC-10
The McDonnell Douglas DC-10 is a three-engine widebody jet airliner manufactured by McDonnell Douglas. The DC-10 has range for medium- to long-haul flights, capable of carrying a maximum 380 passengers. Its most distinguishing feature is the two turbofan engines mounted on underwing pylons and a...
fleet and the economic crisis of 2008.
Gemini Air Cargo ceased operations the evening of August 12th, 2008 and the airline later confirmed that month it was in liquidation
Liquidation
In law, liquidation is the process by which a company is brought to an end, and the assets and property of the company redistributed. Liquidation is also sometimes referred to as winding-up or dissolution, although dissolution technically refers to the last stage of liquidation...
.
As of December 2008, Gemini Air Cargo was purchased by Gemini Worldwide Holdings LLC with plans to start a new cargo/passenger service as Gemini Worldwide Airways. Operations have not started as of early 2010. Visit the Gemini Worldwide Airways site for more information.
Fleet
The Gemini Air Cargo fleet consisted of theMcDonnell Douglas MD-11F
McDonnell Douglas MD-11
The McDonnell Douglas MD-11 is a three-engine medium- to long-range widebody jet airliner, manufactured by McDonnell Douglas and, later, by Boeing Commercial Airplanes. Based on the DC-10, it features a stretched fuselage, increased wingspan with winglets, refined airfoils on the wing and smaller...
and the
McDonnell Douglas DC-10-30F
McDonnell Douglas DC-10
The McDonnell Douglas DC-10 is a three-engine widebody jet airliner manufactured by McDonnell Douglas. The DC-10 has range for medium- to long-haul flights, capable of carrying a maximum 380 passengers. Its most distinguishing feature is the two turbofan engines mounted on underwing pylons and a...