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Unhappy new year for Italian carrier

[ January 6, 2012   //   ]

All-cargo operator CargoItalia has ceased and the company has been wound up, the airline said in a statement. The Milan Malpensa-based operator was established in 2005 and operated scheduled and charter services from Italy mainly to the , the Middle East, Far East and North America using a fleet of three MD-11 freighters although it had signed orders for five A330-200Fs. In a press statement, CargoItalia blamed difficulties with a four-times-a-week Milan-Hong Kong joint venture with Cargolux for its financial difficulties.
CargoItalia is the second major all-cargo carrier to cease operations over Christmas, following the collapse of the Jade Cargo operation in Asia.