HNCA bid for Cargolux stake fades as the government stumbles in election

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The likelihood of investment from Henan Civil Aviation Development and Investment Company (HNCA) into Cargolux became more remote this week, after unions stalled a board meeting aimed at discussing the tie-up.

Sources in Luxembourg indicated that there was little appetite for the deal among the carrier’s management and staff, but the government was keen to sew-up the share sale.

HNCA’s key role is to boost the development of Zhengzhou Airport and build up cargo airlines’ presence, as it is situated in a ...