Cargolux increases share capital, to take delivery of further five 747-8Fs by end of 2017

Cargolux Airlines International SA announced (23-Apr-2014) that an EGM of the company's shareholders has resolved to increase the share capital of the airline by USD175 million in cash in exchange of newly issued common shares. President and CEO Dirk Reich said, "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". 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-Mar-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 747-8F 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. [more - original PR]