IN FOR THE LONG HAUL : GEMINI AIR CARGO TRIES TO WEATHER THE DOWNTURN AND BE READY TO TAKE ADVANTAGE OF BETTER DAYS AHEAD

This article presents a profile of a two-year-old air cargo company based in Washington-Dulles. Gemini parked one-quarter of its fleet early 2002 after huge drop in cargo traffic. It expects to add some soon. Its troubles reflect problems in entire segment, which had experienced growth of roughly 7% a year traditionally and suddenly experienced drops in range of 10%. Volume is still 15% below what was expected for 2003 before the slump. Asian traffic and West Coast dock strike helped lift 2002 numbers. Growth in Asia is expected to lead the markets with intra-Asia shipments and Chinese expansion key ingredients. Gemini is owned by the secretive Carlyle Group, established in Washington, D.C. in 1987, and thus is part of one of the largest private equity funds in the world. Its private ownership enables Gemini to screen its financial results from regulators such as the Securities and Exchange Commission. But is must file quarterly revenue reports with the DOT. They should it to have posted $160.1 million for 12 months ending June 30, 2002, down from $192.6 million the prior 12-month period. Cutbacks in passenger flights should translate to more opportunities fort specialized cargo carriers like Gemini, though it may be hampered by the small size of the planes in its fleet. As air cargo companies consolidate to better control unit costs, Gemini may be a merger candidate.

• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/issn/00022543
• Supplemental Notes:
  • Page range: pp 84, 86
• Corporate Authors:

  Penton Media

  1300 E 9th Street
  Cleveland, OH  United States  44114-1503
• Authors:
  • Arnoult, S
• Publication Date: 2003-6

Language

• English

Media Info

• Features: Photos;
• Pagination: 2 p.
• Serial:
  • ATW: Air Transport World
  • Volume: 40
  • Issue Number: 6
  • Publisher: Penton Media
  • ISSN: 0002-2543

Subject/Index Terms

• TRT Terms: Air cargo; Airlines; Cargo aircraft; Freight traffic
• Identifier Terms: Gemini Air Cargo
• Subject Areas: Aviation; Freight Transportation; Vehicles and Equipment;

Filing Info

• Accession Number: 00961068
• Record Type: Publication
• Source Agency: UC Berkeley Transportation Library
• Files: BTRIS, TRIS
• Created Date: Aug 4 2003 12:00AM