Cargojet To Sell Two 777 Aircraft

[DHC-1 Jockey]

"Canadian airline Cargojet said Monday it plans to sell two Boeing 777-300 aircraft it had planned to convert into freighters and is postponing orders for other large-aircraft modifications to preserve cash as the weak global economy lowers demand for shipping goods.

The all-cargo carrier, which reported a CA$16.3 million ($12 million) decline in gross margin for the fourth quarter because the normal year-end bump in shipping volumes didn’t materialize, said it expects to finalize the 777-300 sale early this quarter for $53.5 million and defer the delivery of two more 777-300s to help weather the current economic downturn. It didn’t disclose who will buy the aircraft."

https://www.freightwaves.com/news/cargo ... mand-slips