Gemini's DC-10-30(F) N601GC (c/n 47921/117) is seen here at Amsterdam IAP in Feb.2000
On 15Aug08 www.AirCargoNews.net published the news that Gemini Air Cargo, already operating under Chapter 11 conditions, had ceased flying: "GEMINI Air Cargo has ceased operations and has entered Chapter 7 liquidation, after eleventh hour negotiations to secure the airline’s future are believed to have failed.
In mid-June Gemini vice-president general counsel Don Creston, said the company hoped to sell its operation as part of its Chapter 11 filing in Miami bankruptcy court. At that time, he said management has not determined if Gemini would cease flying should a buyer not be found.
Despite interest from a number of parties, including Centurion Air Cargo and Bravia Capital, no deal could be reached.
The bankruptcy court was due to rule on a successful bidder on 15 August, however, it is believed that negotiations with the final interested party, Bravia Capital, broke down on 12 August and the airline subsequently ceased flying operations.
Despite numerous attempts to contact Gemini at its US headquarters, the company was unavailable to confirm or deny that it had stopped operating.
A source close to the airline said that the plan was for the existing owners to stop funding the airline from 15 August and the new owners to take over. However, late on 12 August the potential buyers pulled out of the deal, leaving no alternative than to wind up the airline.
He addd that only a skeleton staff remain at the company and most employees have been informed of their fate.
Gemini’s four MD-11Fs will now be returned to the lessors, two to GECAS and two to AerCap.
It is rumoured that the two GECAS-owned aircraft are likely to be placed with World Airways, that has been looking to increase its MD-11 fleet.
The problems encountered by Gemini, reflect the financial pressures faced by many freighter ACMI operators in the current economic climate.
Plans by airlines to expand freighter fleets have been curtailed, as the growth in cargo grinds to a halt, creating less demand for leased-in capacity.
The failure of Gemini follows the cessation of operations by another MD-11F operator, Transmile, earlier this year."
Gemini Air Cargo was an American ACMI (Aircraft, Crew, Maintenance, & Insurance) cargo airline headquartered in Dulles, Virginia, USA. It operated worldwide cargo schedules and charters on a wet-lease basis. Its main bases were Miami International Airport and John F. Kennedy International Airport, New York.
Flight crew, of which there are approximately 200 are 'Home Based' and as such can live anywhere with in 3 hours of an airport. Flight crew will usually go on a 2 week on 2 week off schedule.
The airline was established in December 1995 and started operations on 24 October 1996. It began operations as a freight forwarder, wet-leasing three aircraft from Sun Country Airlines for its first year until it was granted certification for its own aircraft in October 1996.
In July 1999 the airline was acquired by William Carlyle. It was owned by the Carlyle Group (56%), Lehman Brothers (36%), management (5%) and Oak Tree Capital (3%). Today, it is mainly owned by Bayside Capital Investments and has 412 employees (at January 2005).
The Airline emerged from bankruptcy reorganization in a debt restructuring involving a DIP (debtor in position) and exchange of debt for equity with Bayside Capital in August 2006. Gemini again filed for bankruptcy protection in the early summer of 2008. Gemini Air Cargo ceased operations the evening of August 12, 2008. [Source: Wikipedia]
Gemini Air Cargo on Airliners.net
Screendump from www.bing.com/maps (birdseye view), Gemini aircraft parked at Opa Locka,FL
The date of this photo is unknown, but the screendump was made in August 2009