May 3 - According to a statement on the air cargo airline's website, after the temporary suspension of its Operating Licence the management and shareholders of for Air Cargo Germany, unanimously have decided to declare insolvency.

The statement adds that "through the insolvency proceeding both management and shareholders envision to create an opportunity to restructure the company and restore operational activities. All options will be taken into account to restore customer confidence."

Air Cargo Germany, which had temporarily interrupted its flight operations on April 18, is based at Frankfurt-Hahn Airport and specialises in global airfreight transports, operating a fleet of four Boeing B747-400SFs.