UK freighter operator CargoLogicAir (CLA) has confirmed to HLPFI’s sister publication Air Cargo News that it has suspended operations.
The carrier's exposure to the Chinese market has taken its toll and, in a short statement, the B747 operator said “due to the latest market development, specifically the drastic decrease of the market demand, CLA finds it extremely difficult to continue its commercial operations”.
It added: “Most importantly, CLA operations have been severely affected as it had placed a significant portion of its commercial activities in the Chinese market. As a result, a decision was made to suspend the flights.”
The China market has taken a hit as result of the trade war with the US and more recently the outbreak of the coronavirus that has seen factories extend Chinese New Year closures as part of efforts to contain the outbreak.
The carrier said that it would continue to fulfil its contractual, financial and regulatory obligations and added that it is in close communication with the UK Civil Aviation Authority (CAA) in order to ensure a safe transition period.