(Yicai) July 24 -- Uni-Top Airlines, the first Chinese carrier to go bankrupt after the Covid-19 pandemic, has failed to auction off an Airbus A300 at the third attempt.

Uni-Top tried to sell the plane on JD.Com’s auction site this week but received no bids. Before this, the Wuhan-based cargo airline made similar attempts with two Boeing 747 planes on the online platform.

Many airlines lack planes, especially large aircraft that can fly intercontinental routes, but Uni-Top's jets are too old, industry insiders told Yicai. 

Founded in 2008, Uni-Top had 13 large and medium-sized cargo aircraft at its peak. A court in its hometown declared the carrier bankrupt in March. Its creditors claim CNY8.3 billion (USD1.1 billion), according to data the court disclosed.

Uni-Top began to face operational difficulties in 2019, grounding many aircraft as a result of the macroeconomic environment, tighter financing policies, and a downturn in the international air cargo market.

Uni-Top started putting land use rights, buildings, and aircraft up for sale last month after financing and restructuring talks failed with various parties, including JD.Com, China Merchants Group, and Chinese local governments.

Editor: Emmi Laine