Aerojet is set to sell off its freight-hauler business to a private Chinese buyer, a deal that would bring the company to an end more than four decades after its launch.
Air freight service was launched in 1983 by the Dutch airline Euflan, which then changed its name to Aerojet.
It operated in 26 countries and was the biggest air freight company in the world at the time, and the world’s biggest airline.
It has since been taken over by China National Offshore Oil Corporation (CNOC), which is one of China’s largest airlines.
It now has more than 30,000 staff in more than 60 countries and has operations in more then 100 countries.
It was the world leader in passenger and cargo service and one of the worlds largest airlines before the introduction of its low-cost Airbus A320neo in 2012.
Air Freight was acquired by CNOC in January 2016 for an undisclosed sum, but in an announcement made on Monday, Aerojet said it would close its operations and lay off 50 employees, including staff from its Auckland office.
“We are announcing today that we are ending our commercial freight operations and laying off 50 staff,” it said.
Aerojet had been operating Aerojet Freight and Aerojet Cargo as its main cargo carrier since 2003. “
It will be difficult for our customers to access our products and services, but we will continue to deliver the best service for our shareholders.”CNOC did not immediately respond to a request for comment.
Aerojet had been operating Aerojet Freight and Aerojet Cargo as its main cargo carrier since 2003.
It started its first passenger service in 2008, and its Cargo Freight service in 2017.
It operates two commercial service routes, which it said were the world record for passenger services.
It is unclear if the new buyer will be able to compete with Air Freight or Aerojet as the two companies offer similar products.
CNOC has previously said it was looking to diversify its fleet of aircraft.