Blame it on the bossa nova.
Being reported elsewhere that "a Boeing customer" went broke / bankrupt.
It's a non-story.
The orders were never going to be filled anyway.
Here's one article on the story
CargoLogicAir, the U.K.-based all-cargo airline affiliated with Russia’s Volga-Dnepr Group, appears to be officially going out of business, collateral damage from the invasion of Ukraine.
The airline, which flew two Boeing 747-400 freighters out of London airports, ceased operations earlier this year after the U.K. government sanctioned majority shareholder Alexey Isaykin for signing a deal with the city of Moscow for Volga-Dnepr Airlines to maintain supply chain connectivity with countries in Asia and the Middle East.
On Wednesday, CargoLogic Air (CLA) appointed corporate restructuring firm Buchler Phillips to administer its insolvency ....
CLA was a small carrier, but the grounding of two extra-large freighters is part of the story behind the shortage of cargo capacity compared to pre-COVID times and why rates haven’t dropped more with weak demand. Sister company CargoLogic Germany, with a fleet of four Boeing 737 freighters, has also been grounded after filing for bankruptcy protection in May. And AirBridgeCargo, Volga-Dnepr’s scheduled airline that flew a large fleet of Boeing 747 freighters, has been shut down along with subsidiary Atran Airways.
Established in 2015, CLA had a spotty history. It reduced operations in 2019 under weak market conditions and closed down in early 2020 but regained its operating certificate in April when the pandemic created intense demand for freighter service. CLA employed about 130 before the sanctions and turned a profit in 2020.
