1. Text: | Print|

      Henan aviation firm to take stake in Cargolux

      2013-12-10 10:45 China Daily Web Editor: qindexing
      1

      Henan Civil Aviation Development and Investment Co Ltd, a State-owned company in Henan province, has purchased a 35 percent stake in Cargolux Airlines International SAS, the Dahe Daily reported.

      The total value of the transaction is $231 million, including a 35 percent stake in the company and a $10 million expansion fund, according to the newspaper.

      Zhengzhou Xinzheng International Airport will become Cargolux's second hub globally after the transaction is completed, and the freight carrier will open new routes from Luxembourg to Zhengzhou, the capital of Henan province, with four flights weekly.

      HCADI will pay an additional $15 million as a subsidy for the new routes, it said in an agreement. The company did not respond to China's Daily's request for comment on Monday.

      Cargolux, one of Europe's largest scheduled all-cargo airlines with a global network, declined to release details of the transaction, because it has not been approved yet.

      "The transaction has not yet been completed," said Martine Scheuren, director of the freighter's corporate communications department.

      Cargolux, based in Luxembourg, said in its financial statements that its loss widened to $35.13 million in 2012 from $18 million in 2011.

      The 35 percent stake, which is now held by the Luxembourg government, was sold by Qatar Airways Co in December 2012. The government paid $117.5 million for it, the same price that Qatar Airways paid when it bought the stake from the government in 2011.

      Generally speaking, it's not a good time to buy a stake in a cargo airline, as the global air cargo market has been sluggish in the recent years, analysts said. But this deal is an exception.

      "Demand for international freight is huge in the province, as Foxconn Technology Group has facilities there," said Li Lei, a civil aviation analyst with China Minzu Securities Co Ltd.

      Foxconn, as Taiwan-based Hon Hai Precision Industry Co Ltd is known, is a major contract maker of consumer electronics, dealing with such global giants as Apple Inc and Sony Corp.

      Henan's total foreign trade rose 83 percent in 2011, when Foxconn's facilities in the province began operations, according to the local government.

      "As many as 52.6 percentage points of the rise in 2011 was driven by Foxconn," the local government said in a statement.

      In the first three quarters of 2013, the province's export volume increased 19.3 percent, or 11.3 percentage points higher than the nation's average growth, according to local customs figures.

      Through the transaction, the State-owned civil aviation company in Henan province can obtain stable cargo capacity to Europe, Li said.

      "The local government is trying to control the risk for external trade by adding more freighter capacity," he said.

      Comments (0)
      Most popular in 24h
        Archived Content
      Media partners:

      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 亚洲黑人嫩小videos| 亚洲一区二区三区在线观看网站| 久久免费国产视频| 亚洲国产成人久久综合一区| 日韩精品视频免费网址| 久久精品无码免费不卡| 亚洲精品亚洲人成在线麻豆| 国产一级淫片免费播放| 久久免费观看国产精品| 色噜噜的亚洲男人的天堂| 久久久久久a亚洲欧洲AV| 日本v片免费一区二区三区 | 免费高清国产视频| 亚洲日韩AV一区二区三区四区| 国产成人99久久亚洲综合精品| 亚洲精品在线免费观看| 特黄aa级毛片免费视频播放| 亚洲国产高清视频| 亚洲精品无码99在线观看| 福利免费观看午夜体检区| 一级毛片免费在线观看网站| 亚洲午夜久久久久久尤物| 亚洲日韩精品无码一区二区三区| 成人免费网站在线观看| 久久免费动漫品精老司机| 欧洲亚洲综合一区二区三区| 亚洲综合激情视频| 亚洲小说区图片区另类春色| 永久黄网站色视频免费观看| 久久A级毛片免费观看| 一级做a爱过程免费视| 亚洲欧美国产精品专区久久| 1区1区3区4区产品亚洲| 日韩亚洲变态另类中文| 四虎在线播放免费永久视频| 国产卡一卡二卡三免费入口| 久久综合国产乱子伦精品免费| eeuss影院免费直达入口| 日韩成人精品日本亚洲| 亚洲视频无码高清在线| 亚洲综合无码一区二区|