11.09.2023 - 11:10 UTC
A former chief operating officer at Polar Air Cargo (PO, New York JFK) was extradited from Thailand to the United States last month to face wire fraud and money laundering charges. Lars Winkelbauer was one of four senior executives at Polar Air Cargo and six vendors indicted by the United States Department of Justice (DOJ) in April 2023 over an alleged USD52 million fraud. At the time, Winkelbauer was in Thailand, where local authorities arrested him pending his extradition.
According to the Loadstar outlet, authorities processed Winkelbauer upon his arrival in the United States. He was released on a USD750,000 bond and is subject to electronic monitoring. The allegations are that between 2009 and 2021, the ten individuals defrauded Polar Air Cargo by accepting millions of dollars in kickbacks from the vendor defendants in exchange for ensuring that those vendors received favourable business arrangements with Polar. Winkelbauer's matter is the United States v. Winkelbauer, 23-CR-133 (JMF), ECF No. 3 (S.D.N.Y.).
"The defendants, all of whom were either employed in high-level positions by Polar or were...
21.04.2023 - 04:19 UTC
Air India (AI, Mumbai International) is looking at acquiring dedicated freighters according to a report in The Business Standard. The airline is reportedly keen to snag a larger share of India's growing air cargo market. Currently, Air India flies cargo in the belly holds of its passenger aircraft.
“We are exploring the possibility of inducting freighter capacity into the network, both directly and in collaboration with partners," Air India told the outlet via an email statement. In February, Air India CEO Campbell Wilson told media that cargo would be a significant part of Air India's overall revenue mix in the future, and that capacity and systems to accommodate this would be built up.
Earlier this year, Air India placed a firm order for 470 aircraft split across various Airbus and Boeing family types. However, the order did not include any freighters. “The newly ordered aircraft, particularly the wide-body aircraft, comes with a lot of belly cargo space," said Wilson, when asked about this.
In 2022, India generated 2.25 million tonnes...
16.01.2023 - 05:03 UTC
Blue Dart Aviation (BZ, Chennai) has secured near unanimous shareholder approval to acquire two B737-800(F)s from DHL Express, which, according to Cargo Facts, are likely to be ex-SpiceJet (SG, Delhi International) units.
The German logistics firm, which is a 75% shareholder and a commercial partner of Blue Dart Aviation, acquired the two B737-800(BCF)s from Spectre Air Capital in December 2022. N901JK (msn 30474) and N605JJ (msn 30475) were ferried from Naples Capodichino to East Midlands in mid-December and remain at the British airport, Flightradar24 ADS-B data shows. They were retired by SpiceJet in August and September, when the airline chose a fleet of three B737-700(BDSF) for its cargo unit, SpiceXpress.
Blue Dart Aviation sought shareholder consent to acquire two B737-800 freighters in late November. At that time, it estimated the total cost of the transaction to be approximately INR4.1 billion rupees (USD50 million). In a Bombay Stock Exchange filing on December 23, it said that 85.1% of all shareholders and 99.9% of voting...
09.12.2022 - 05:50 UTC
Blue Dart Aviation (BZ, Chennai) intends to purchase a pair of B737-800(F)s from sales alliance partner and major shareholder, DHL Express/Deutsche Post AG, Germany (DHL). The acquisition was flagged in a November 23 Bombay Stock Exchange (BSE) filing and will cost Blue Dart approximately INR4.1 billion rupees (USD50 million).
In the filing, Blue Dart Express, parent company of Blue Dart Aviation, said the aircraft were essential if Blue Dart was to maintain its position as India's top domestic freight airline and to accommodate anticipated year-on-year annual cargo growth rates of 6%.
Blue Dart Aviation presently operates six B757-200(PCF)s, three of which are owned by the company and three which are leased from DHL. The German logistics company has been working with Blue Dart since 2002 and acquired an 81.03% stake in the business in 2005, since trimmed back to a 75% shareholding.
Blue Dart Aviation intends to fund the aircraft purchase from DHL Aviation (Netherlands) B.V with an INR2.5 billion (USD30.4 million) loan from DHL Logistics Private Ltd with the remainder...
