“Amerijet International on Wednesday terminated more than a dozen employees because of sharply lower revenues associated with a prolonged slump in global air cargo demand that is beginning to materially hurt more freighter operators.

The move comes on the heels of the company‚Äôs pilots on Friday ratifying a new three-year contract that raises their pay up to 45%, increasing expenses for the Miami-based all-cargo carrier at a time of shrinking sales.”