Cargolux reaches tentative agreement with Boeing for 747-8F deliveries

Cargolux reached (01-Oct-2011) a tentative agreement with Boeing over contractual issues in respect of the delivery of the first two B747-8Fs initially scheduled for 19-Sep-2011 and 21-Sep-2011. Cargolux will disclose further details after signing the accord and a 07-Oct-2011 meeting of its Board of Directors. According to wire reports, Cargolux will take delivery of the first B747-8F on around 12-Oct-2011, a month later than anticipated, after resolving a dispute that delayed its acceptance of the first aircraft.

The delay was due to the General Electric Co engines not meeting performance guarantees, Qatar Airways CEO Akbar Al Baker said. He stated Cargolux rejected the delivery of the first two B747-8Fs because of a 2.7% shortfall in fuel-efficiency guarantees, with the decision to reject the delivery occurring three days before the planned acceptance date, at the 16-Sep-2011 AGM of the carrier. This was the first AGM for Mr Al Baker after Qatar Airways acquired a 35% stake in the cargo carrier in Jun-2011. "Unfortunately, the management of Cargolux did not take the action they should have taken during the process of the aircraft acceptance. As we sit on the board of Cargolux, we have full right to object if we find something is not fair as far as Cargolux is concerned," he said. Mr Al Baker stated the postponement of the B747-8F delivery was not related to discussions over Qatar's order for B787s, which are also delayed. [more - original PR]