Luxembourg, Cargolux International Airlines S.A. announced today the closing of the strategic equity partnership transaction with Qatar Airways after clearance by all competent authorities. On 9 June 2011, the Doha-based carrier had signed an agreement to acquire a 35% equity stake in Cargolux.
Due to the complementary nature of the business and fleet composition of both companies, the strategic partnership with Qatar Airways enables Cargolux to enhance its competitive position as an independent leading air cargo operator. The transaction increases the attractiveness of the Cargolux network through increased reach and scale. It also gives the Company access to additional capacity and new destinations and strengthens the Luxembourg and Doha hubs.
Ownership structure:
The shareholder structure effective as from today is as follows:
Luxair: 43.4%
Qatar Airways: 35.0%
Banque et Caisse d’Epargne de l’Etat (BCEE): 10.9%
Société Nationale de Crédit et d’Investissement (SNCI): 10.7%
Source:
Press Release (Cargolux International Airlines)
