Cargolux accused of refusing to conduct collective contract negotiations
Cargolux is back in talks with unions over its collective contract – never normally a ...
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By Alex Lennane
Local media in Luxembourg are reporting that Cargolux’s board failed to make a decision on HNCA’s offer yesterday, but that government advisor Robert Schaus has recommended that the share sale go through, an opinion shared by prime minister-to-be Xavier Bettel.
However, more details of HNCA’s offer ...
Comment on this article
Joeseph Bennett
November 30, 2013 at 8:38 pmGiven the current cargo market conditions, the high level of competition and the fact that Cargolux operates a relatively inefficient business model in a high cost environment I don’t believe that their results are improving. Perhaps they are under pressure to utilise creative accounting to improve the results to help justify a high share sale price for the sale to the Chinese.