GEMINI Air Cargo has ceased operations and has entered Chapter 7 liquidation after last minute talks with a potential buyers failed, reports London's Air Cargo News.

A Miami bankruptcy court was to rule on a bidder for the Washington Dulles International Airport-based airline on August 15, but negotiations with Bravia Capital ended before the date and Gemini ceased flying.



Centurion Air Cargo and Bravia Capital both expressed interest in buying the failing airlines, but no agreement could be reached with either.



The company planned to sell its operation as part of its Chapter 11 filing in Miami bankruptcy court. At that time, the company said, management had not determined if Gemini would cease flying should a buyer not be found.



The company retained a skeleton staff and employees had been informed of their prospects. Gemini's four MD-11Fs will return to lessors, two to GECAS and two to AerCap. The two GECAS aircraft are reportedly going to World Airways.



Air Cargo News also learned that Alitalia Cargo is considering selling off its fleet of MD-11Fs, as it too faces mounting debts.