MIAMI-BASED freighter operator Amerijet is looking to the future after a difficult 12 months that have seen the airline restructure its business and fleet, reports London's Air Cargo News.
According to Amerijet CEO Joe Mozzali the airline's troubles stemmed from there being too much capacity in a slowing air cargo market over the last couple of years and the loss of three of four key contracts with the US Postal Service and DHL.
The difficulties resulted in the carrier reporting a loss of US$58 million last year while revenues were down by around 17 per cent compared with the prior year, according to the US Bureau of Transportation Statistics.
But Mr Mozzali, who took over as CEO in October last year, told Air Cargo News that there was positive momentum in the market in the latter part of 2023. The carrier, he said, had been busy re-focussing its scheduled service strategy around network optimization and also sought to capitalize on the on-demand market.
He said the strategy centred three core elements: Protecting and growing the core scheduled service business while improving customer experience and becoming a relevant player in the Colombia flower market.
Mr Mozzali said the company has completed the core of its business restructuring, received a $55 million capital infusion from its existing lenders and re-sized its fleet to match demand expectations.
SeaNews Turkey
According to Amerijet CEO Joe Mozzali the airline's troubles stemmed from there being too much capacity in a slowing air cargo market over the last couple of years and the loss of three of four key contracts with the US Postal Service and DHL.
The difficulties resulted in the carrier reporting a loss of US$58 million last year while revenues were down by around 17 per cent compared with the prior year, according to the US Bureau of Transportation Statistics.
But Mr Mozzali, who took over as CEO in October last year, told Air Cargo News that there was positive momentum in the market in the latter part of 2023. The carrier, he said, had been busy re-focussing its scheduled service strategy around network optimization and also sought to capitalize on the on-demand market.
He said the strategy centred three core elements: Protecting and growing the core scheduled service business while improving customer experience and becoming a relevant player in the Colombia flower market.
Mr Mozzali said the company has completed the core of its business restructuring, received a $55 million capital infusion from its existing lenders and re-sized its fleet to match demand expectations.
SeaNews Turkey
