JetTime quits cargo, leaving five 737Fs on the market

Thorkild Jensen

Danish charter carrier JetTime is leaving the freight business. Both cargo and its ACMI business for SAS will be cut, leading to 278 job losses over the next year. JetTime has five converted 737Fs on lease from a variety of lessors. The carrier said the cargo and ACMI businesses had created too much complexity and it would return to its core business of charter flights.

It is not the only carrier backing out of freight. China Eastern is selling its Eastern Logistics subsidiary. Eastern Logistics owns an 83% stake in China Cargo Airlines. It appears that China Eastern is selling the division to its controlling shareholder as Eastern’s share of the freight market shrinks, and following China Cargo’s “large losses”.