Early operations Cargo Three was registered in 1991 in Public Deed No. 520 of the 9th Notary of the Circuit of Panama with Germinal Sarasqueta as its president. During its first phase until the early 2000s, the airline operated flights to destinations such as
Miami and
Bogotá with a fleet consisting of a
Boeing 707 and
Convair CV-240 aircraft. The airline suspended its operations for unknown reasons in mid-2000. in storage at
Tocumen International Airport in 2011 In 2003, Cargo Three underwent a rebranding process, returning to the skies operating under the brand
PanAir Cargo, also operating six Convair CV-240s, in the CV-580F variant, in addition to a
Convair C-131 Samaritan and a
Boeing 727-200F. In late 2010, for the second time, PanAir Cargo suspended its operations for unknown reasons. After a two-year hiatus under the management of new owners in a mixed partnership between Panamanian citizen Blanca Vasquez (51%) and Venezuelan Daniel Rangel (49%), PanAir Cargo resumed its operations with the incorporation of a
Boeing 727-200F, registration HP-1754CTW, flying from its base at
Tocumen International Airport to destinations in South and
Central America. The aircraft was leased from the
Canadian Matata Group, which subsequently filed a lawsuit against the airline in a Canadian court for non-payment of the aircraft's lease. In 2015, the airline suspended its operations for the third time.
Restructuring In 2019, JMB Aviation Group, owner of Venezuelan airline Transcarga International Airways, acquired a 49% stake in PanAir Cargo, announcing the resumption of operations with an
Airbus A300B4-200F and the intention to rename it
Transcarga Panama. However, due to the
outbreak of the COVID-19 pandemic in 2020, these plans were postponed. In 2021, in the wake of the
economic sanctions imposed on Venezuela in May 2019, as an alternative to meet the demand for air cargo that was transported by Transcarga, which was banned from flying to the
United States, JMB Aviation Group resumed plans to launch the Panamanian airline under the original
Cargo Three brand. Initially, the airline's intention was to begin operations with the
Airbus A300, which received the Panamanian registration HP-1755CTW and the colors of its new operator at MRO Mexicana, at
Mexico City International Airport. The airline received its
air operator's certificate (AOC) issued by the
Civil Aviation Authority of Panama in early April 2021 and established
Tocumen International Airport as its base of operations. For unknown reasons, the A300 was never delivered. The project remained dormant until 2023, when it announced its intention to enter the market, with the acquisition of three retired
McDonnell Douglas MD-10F from
FedEx, with the expectation of starting flights in South America such as
Buenos Aires,
Lima,
Santiago,
Campinas and
Manaus, to
Miami, through the development of its hub in
Panama City in the second half of 2023. However, the plan was postponed to the second half of 2024 for operational reasons. Cargo Three also has plans to establish a new hub that will connect Panama City with
Caracas,
Barcelona,
Maracaibo,
Porlamar and
Valencia in
Venezuela, with flights expected to be operated by Transcarga. On February 2, 2024, the first MD-10-30F, previously operated by FedEx (N311FE), was transferred for maintenance at
Ernesto Cortissoz International Airport, in
Barranquilla. It was given the same registration as the former A300. On August 5, the aircraft was officially handed over to its new operator and transferred to its new home in Panama City. ==Fleet==