News / Cargolux finally signs up to HNCA partnership deal, despite union fears

14/01/2014

The deed has been done. As of 17.40 today, Zhengzhou time, or 10.40am CET, Henan Civil Aviation & Investment Co (HCNA) is officially a 35% shareholder in Cargolux, having bought the Luxembourg government’s stake for $231m.

The signing ceremony was attended by HNCA officials as well as Luxembourg infrastructure minister François Bausch and Cargolux’s chairman Paul Helminger, interim CEO Richard Forson and Robert van de Weg, senior vp sales and marketing.

According to the terms of the commercial agreement – little changed ...