EMCC European Monitoring Centre on Change

Cargo Logic Germany

Company/Organisation:
Cargo Logic Germany

Geographic Location

Country: Germany
Region: Leipzig; Sachsen

Company

Sector: Transportation / storage
Transportation and storage
51.21 - Freight air transport
Number Employed: 110
Group: Cargologic Holding

Employment Effects

Announcement Date: 01-08-2022
Planned Job Reductions min: 110
Type of Restructuring: Closure
Employment Effect Start: 01-08-2022
Direct Dismissals: 110

Additional Information

Cargo Logic Germany, a German cargo airline and subsidiary of Cargologic Holdings, filed for insolvency and announced the redundancy of around 110 people in Leipzig, Saxony, Germany.

Cargo airline Cargo Logic Germany (CLG) was declared insolvent on 10 May, after being banned from European airspace by Germany's Federal Aviation Authority (LBA) in March as a result of sanctions against Russia, because the company has Russian ownership. The company did not found any investors during this period; its four Boeing 737 freighters are stuck at various airports. The insolvency administrator reported that all the employees will be made redundant, although some of them will be kept on for a while to help the insolvency administrator liquidate the company.

CLG, which employed almost 110 pilots before the bankruptcy, mainly flew for the logistics company DHL, which operates its European logistics centre at Leipzig/Halle Airport.