History

Thai Air Cargo was established in December 2004 as a joint venture between a Thai logistics firm, Commercial Transport International, or CTI Holdings (51%) and Australian airline Qantas

Qantas

Qantas Airways Limited is the flag carrier of Australia. The name was originally "QANTAS", an initialism for "Queensland and Northern Territory Aerial Services". Nicknamed "The Flying Kangaroo", the airline is based in Sydney, with its main hub at Sydney Airport...

 (49%).

Thai Air Cargo was to initially target markets in Japan, China, India and Europe.

In 2005, the company announced it was to wet lease

Wet lease

Aircraft leases are a number of types of leases used by airlines and other aircraft operators. Airlines lease aircraft from other airlines or leasing companies for two main reasons; to operate aircraft without the financial burden of buying them, and to provide temporary increase in capacity...

 a McDonnell Douglas MD-11

McDonnell Douglas MD-11

The McDonnell Douglas MD-11 is a three-engine medium- to long-range widebody jet airliner, manufactured by McDonnell Douglas and, later, by Boeing Commercial Airplanes. Based on the DC-10, it features a stretched fuselage, increased wingspan with winglets, refined airfoils on the wing and smaller...

 from US-based World Airways

World Airways

World Airways, Inc. is an American airline headquartered at the HLH Building in Peachtree City, Georgia. For the most part, the company operates non-scheduled services. Its main aircraft and maintenance base is Tampa International Airport.-History:...

.

Beginning operations at a time when Thailand's national flag carrier Thai Airways International

Thai Airways International

Thai Airways International Public Company Limited is the national flag carrier and largest airline of Thailand. Formed in 1988, the airline's headquarters are located in Chatuchak District, Bangkok, and operates out of Suvarnabhumi Airport. Thai is a founding member of the Star Alliance. Thai is a...

was focused more on its passenger business, Thai Air Cargo filled a niche and appeared to be doing good business, with 95% load factors.

However, in March 2006, Thailand's Civil Aviation Department said it was withdrawing the cargo carrier's license, and it appears the airline has gone out of business.