Luxembourg, Cargolux announced today that the delivery of the first two Boeing 747-8 Freighters initially scheduled for 19 and 21 September is proceeding on 12 and 13 October 2011 following the resolution of contractual issues between Boeing, GE and Cargolux related to the performance of the aircraft and the engines.
In its meeting on 7 October, the Cargolux Board of Directors appreciated that the negotiation team (Akbar al Baker (Director), Frank Reimen (President and Chief Executive Officer)) and David Arendt (Executive Vice President and Chief Financial Officer) and Company management took the appropriate actions to ensure that the 747-8 entry into service issues be resolved successfully.

Frank Reimen, President and Chief Executive Officer of Cargolux, said: ‘I am pleased that we have reached agreement on the contractual issues. The 747-8 Freighter will be a driver of profitable growth for Cargolux’.

Launch customer Cargolux has 13 Boeing 747-8 Freighter airplanes on firm order.

As an enhanced variant of the 747-400 cargo aircraft, the new-generation 747-8 Freighter offers a variety of benefits over its predecessor, including additional payload, less fuel burn and carbon emissions and a considerably lower noise footprint.

Source: Press Release (Cargolux International Airlines)

About Cargolux Airlines International

Cargolux, based in Luxembourg, is Europe’s largest all-cargo airline, operating a modern fleet of 16 Boeing 747-400 freighters. Its worldwide network covers 90 destinations, 60 of which are served on scheduled all-cargo flights. The company has more than 85 offices in over 50 countries, and also offers an extensive trucking network to more than 180 destinations worldwide, as well as charter and aircraft maintenance services. Cargolux employs nearly 1,500 staff worldwide.Ownership structure:

The shareholder structure 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%