Independent journal on economy and transport policy
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Qatar Airways intends to yield own quota 35% in Cargolux
the Middle Eastern company had acquired the participation little more than a year it makes
November 20, 2012
The airline Luxemburgian all-cargo Cargolux International Airlines has confirmed the intention of Qatar Airways to exit from the companies share of the society being yielded own participation, that it is pairs to 35.0% of the capital stock of Cargolux. As well as by Qatar Airways the company is participated with 43.4% from the Luxemburgian aerial group Luxair and with 20.9% and with 10.7% respective from the Luxemburgian financial institutions Banque ET Caisse d'Epargne de Etat (BCEE) and (Société Nationale de Crédit ET of Investissement (SNCI).
Qatar Airways had acquired the quota Cargolux little more than a year it makes with the objective to widen own activities in the field cargo and to become one of the main operators of the market within 2015. Currently the fleet of Qatar Airways is constituted by 111 aircrafts, of which seven for the transport goods, while the fleet of Cargolux is formed by 14 aircrafts all-cargo.
Cargolux has closed the exercise anniversary 2011 with a net loss of 18,3 million dollars on revenues in order almost 1,9 billion dollars respect to a profit clearly of 59,8 million dollars on revenues for beyond 1,7 billion dollars in 2010. The operating profit is piled to 15,5 million dollars (- 86.1%).
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