Cargolux signs agreements with Chinese partners

Luxembourg's cargo airline Cargolux has signed several agreements with two Chinese firms, Henan Province Airport Group (HAG) and Henan Civil Aviation Development and Investment Company (HNCA), the government announced.

The agreements – signed during a four-day visit to Luxembourg by a Chinese delegation led by Shu Qing, vice-governor of the Henan Province in charge of trade, tourism and foreign relations – aim to further develop a dual hub strategy and airfreight infrastructure for a European logistics hub at Luxembourg airport and a Chinese logistics hub at Zhengzhou in eastern China.

The visit also explored collaboration between Luxembourg and the Chinese province of Henan in the tourism and finance sectors.

HNCA has held a 35% stake in Cargolux since 2014. In June, Cargolux agreed to form a new carrier, Henan Cargo Airlines, to operate from Zhenzhou.

Under a shareholders' agreement the Luxembourg company will own 25 per cent of the new firm. The rest will be held by the Henan Civil Aviation and Investment Company, the Henan Airport Group and the Xinggang Investment Group Company.

(Hannah Brenton, hannah.brenton@wort.lu, +352 49 93 728)