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  • Photo: European Cargo Limited

31.03.2022

Artikel Nummer: 40228

US investment in British cargo carrier


Bournemouth (UK)-based European Cargo Limited (ECL) has closed a significant minority equity investment by Priority 1 Logistics Holdings, a newly formed subsidiary of USA-based Priority 1 Holdings.

 

Proceeds of the investment will be used to eliminate third-party debt, convert EAL's A340 fleet to full cargo freighters, acquire additional aircraft, complete heavy maintenance checks and for shareholder dividends.

 

Douglas Brennan, executive chairman of Priority 1: "Expanding our business into the cargo market represents a very exciting opportunity given the outsized demand for reliable air freighters due to strong trends in the marketplace, including the growing importance of e-commerce and reliable delivery of PPE. Together, we will help fuel the growth of ECL to build a powerful global cargo operator." (ah)

www.european.aero

www.priority1holdings.com

 

 

 

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