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Business

Cargolifter Dream not Dead

Three years after visionary German air cargo company Cargolifter declared insolvency, concrete steps have been taken to breathe new life into the company's plans to build zeppelins capable of moving heavy loads. A small core around former Cargolifter CEO Carl von Gablenz is giving the idea a second chance in conjunction with a complex network of companies and 250,000 euros ($305,570) in founding capital. Gablenz said he remains convinced of the market for modern air cargo ships, despite the failure of his and other European firms pursuing similar ideas to remain in business. The "new Cargolifter," also under the direction of Gablenz, is to pick up where the old Cargolifter left off when it was forced into bankruptcy in June, 2002. "This is just the first step of a new beginning -- maybe on a broader basis with more partners and in smaller steps," said Gablenz of the Cargolifter revival.

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