Air Cargo

European Aviation Completes Purchase of European Cargo Fleet

European Aviation has finalized its acquisition of European Cargo's aircraft portfolio following the carrier's June administration filing. The deal encompasses 16 Airbus A340 freighters, with seven immediately flight-ready for operations. The purchase includes a substantial inventory of Rolls-Royce Trent 553 and 556 spare engines and over 14,000 additional line items for both airframes and powerplants. European Aviation, led by chairman and chief executive Paul Stoddart, plans to resume cargo operations with the fleet. European Cargo's collapse stemmed from a major customer's demand for 30% service price reductions amid softening demand, compounded by escalating jet fuel costs tied to regional conflicts. The carrier had employed 219 staff when it entered administration, with 174 positions eliminated. European Aviation previously owned European Cargo entirely before selling 49% of its stake in 2022 and the remaining 51% stake two years later.