The company has reportedly seen losses hit the ‘tens of millions’
In a letter to employees:
Full Topic (Airliners.net)Although Kalitta Air has experienced a period of rapid growth, it is currently faced with the aftermath of unprecedented worldwide economic conditions,”
“Maintaining strong business fundamentals requires us to evaluate and adjust every facet of our operations in order to ensure that we are operating in the most efficient manner possible during these volatile times. Unfortunately, passively waiting for things to improve and not being proactive is not an option.”
“Consequently, we are forced to reduce aircraft, crews and support staff accordingly,”