After Cargolux Italia, here comes Cargolux China

Cargolux will take 35% stake in Cargolux, China, Chinese people will share the rest
François Bausch, Minister of Sustainable Development and Infrastructure, and his Secretary of State, Camille Gira, were in China from 5 to 7 January. The opportunity to strengthen ties in logistics, but also to talk about the creation of the new joint venture airline that will be finalized in 2016.
Cargolux China was part of the agreement signed in January 2014 with Henan Civil Aviation & Investment Company, whereby the Chinese regained 35% of Cargolux.
The Board should give this January 19, 2016 the green light for the new joint company, announces the Luxemburger Wort quoting Infrastructure Minister François Bausch. Still according to the Minister it is not 25 but 35% of Cargolux China who are retaken by Cargolux. The remaining 65% would be shared between HNCA and the company that owns Zhengzhou airport.
An additional shareholder would have been mentioned, given the necessary investment volume. But the idea was abandoned and participation increased Cargolux says Bausch.
The business of the new company is expected to begin in 2017. Until then, we still decide to purchase or leasing of aircraft, new or used, and pilot hiring in China. Cargolux China will focus on the Chinese and Asian market.
Le Jeudi (via Google Translate)