AMERIJET International Airlines, a fast-growing Miami-based cargo airline, will be closing down its freight forwarding unit, iTN Worldwide.
The decision was communicated by iTN Worldwide CEO Tim Strauss, and the company will cease operations at the end of April, reports New York's FreightWaves.
Mr Strauss said this was a difficult decision and was made after a comprehensive review of the company's portfolio of businesses.
ITN Worldwide currently employs 27 people in the United States, Puerto Rico and Trinidad and manages air and ocean shipping and customs clearance for import/export clients.
Amerijet, now the fourth-largest cargo airline by volume at Miami International Airport, has 1,046 employees, including 245 pilots.
Said Amerijet CCO Eric Wilson: 'As iTN represents a nominal percentage of Amerijet's overall financial results, Amerijet made this decision to focus on growing its core airline business. Over the past two years, Amerijet has been surgically focused on a growth strategy, tripling the number of aircraft it operates, with additional converted 767-300F aircraft on order arriving over the next two years,'
'Freight forwarding has not been a core business. The freight forwarding industry is very fragmented, and to be successful in forwarding requires scalability.'
SeaNews Turkey
The decision was communicated by iTN Worldwide CEO Tim Strauss, and the company will cease operations at the end of April, reports New York's FreightWaves.
Mr Strauss said this was a difficult decision and was made after a comprehensive review of the company's portfolio of businesses.
ITN Worldwide currently employs 27 people in the United States, Puerto Rico and Trinidad and manages air and ocean shipping and customs clearance for import/export clients.
Amerijet, now the fourth-largest cargo airline by volume at Miami International Airport, has 1,046 employees, including 245 pilots.
Said Amerijet CCO Eric Wilson: 'As iTN represents a nominal percentage of Amerijet's overall financial results, Amerijet made this decision to focus on growing its core airline business. Over the past two years, Amerijet has been surgically focused on a growth strategy, tripling the number of aircraft it operates, with additional converted 767-300F aircraft on order arriving over the next two years,'
'Freight forwarding has not been a core business. The freight forwarding industry is very fragmented, and to be successful in forwarding requires scalability.'
SeaNews Turkey
