Cargolux China to commence operations in 2017 as Cargolux board approves investment

Cargolux announced (19-Jan-2016) its board approved a USD77 million investment for a 35% share in Cargolux China, the new JV airline based in Zhengzhou. Henan Civil Aviation Development and Investment (HNCA) will hold 49%, Xin Gang Investment & Development will hold 8% and Henan Airport Group will hold the remaining 8%. Cargolux China is expected to commence operations in 2017 and will focus on trans-Pacific and intra-Asia routes. The carrier aims to expand its fleet to five Boeing 747Fs in the first three years of operation. The overall Cargolux Group fleet will increase from 25 to 30 aircraft by 2017. HNCA is also a 35% shareholder in Cargolux. [more - original PR]