In this paper, we introduce the Air Cargo Allocation Plan Recovery Problem, where we embrace the perspective of a combination airline that relies on belly space to transport cargo. We present a recovery model that can reallocate bookings that are offloaded because of disruptions in the demand (overbooking) or in the supply (aircraft swap of cancellation) side. The model is based on a set-partitioning mixed integer linear program formulation with an itinerary generation pre-processing step whose goal is to limit the number of possible itineraries per booking and hence the computational effort. The problem is solved for three different cases from a European airline. The three cases are, a flight cancellation, an aircraft swap, and an aircraft swap with ULD configuration. The results show that the model is adaptable to fit the time available, the operational cost of the initial solution can be improved and the larger amount of the objective function value comes from revenue loss.