Gemini air cargo "Record-shattering fuel prices" and revenue shortfalls forced the Washington Dulles-based company to file for Chapter 11 protection - for the second time in two years.

To keep operating, it will negotiate an additional loan commitment of up to $14 million from its existing senior lender and seek investors.

Gemini promotes itself as the world's largest operator of McDonnell Douglas DC-10-30F and Boeing MD-11F freighters.




Source: Flight International