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Qatar Airways takes a stake in Cargolux L
UXEMBOURG-based freighter operator Cargolux has entered a strategic equity partnership with Qatar Airways, in which
the Doha-based carrier has acquired a 35 percent stake. Under the terms of the deal, the
two carriers will also engage in a commercial co-operation. According to Marc Hoffmann,
chairman of Cargolux: “At the implementation of the restructuring plan in November 2009, I noted that Cargolux would benefit strongly from a strategic partner. “I am delighted that we have now found such
an excellent strategic partner in Qatar Airways, a leading Middle East carrier and one of the fastest- growing airlines in the world,” he added.
Reimen points out synergies in the deal
“I have no doubt that the
cooperation with the new shareholder will support the business performance of Cargolux and strengthen its market position going forward,” Hoffmann observed. Cargolux president and CEO Frank
Reimen observed: “We have identified numerous synergies owing to the complementary nature of our businesses that will enable us to develop scale and reach and
strengthen our respective hubs in Luxembourg and Doha.” Qatar Airways CEO Akbar Al Baker
commented: “We seek to fuel our growth plans by including air freight as a major part of our product offering. Our investment in Cargolux ... will deliver great value to Qatar Airways.”
IN BRIEF
GLOBAL integratorUPS has more than doubled the available capacity on 19 of its weekly flights from Miami into Central and South America, by replacing a B757 freighter with a widebody B767F aircraft on services to Quito, Guayaquil, Bogotá, Panama City, Guatemala City and Managua.
AIR LOGISTICS CHINA
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