Cargolux increases share capital

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By TESTCustomwebLP TESTCustomwebLP April 25, 2014 19:38

Cargolux increases share capital

Cargolux Airlines International has announced that an Extraordinary General Meeting of the company’s shareholders has resolved to increase the share capital of the airline by US$ 175 million in cash in exchange of newly issued common shares.

“The share capital increase is another important milestone in securing our growth plans and the expansion of the Cargolux fleet. It significantly improves our resilience against any future industry downturns and strengthens our balance sheet,” said Dirk Reich, President and Chief Executive Officer.

In addition, the airline has announced the closing of the 35% share sale transaction between the Luxembourg State and Henan Civil Aviation and Investment Co. Ltd., (HNCA), which leads to the following share ownership structure, effective 23 March, 2014:

Luxair: 35.10%
HNCA: 35.00%
Banque et Caisse d’Epargne de l’Etat (BCEE): 10.91%
Société Nationale de Crédit et d’Investissement (SNCI): 10.67%
The Grand-Duchy of Luxembourg: 8.32%

Cargolux will take delivery of another five Boeing 747-8 freighters until the end of 2017 that will be used to further expand the airline’s global network and improve its position in the global air freight market.

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By TESTCustomwebLP TESTCustomwebLP April 25, 2014 19:38
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