Qatar Airways sells stake in EU cargo airline
Brussels, November 17, 2012
Qatar Airways is to sell its stake in Luxembourg's all-cargo airline Cargolux after a disagreement over the future direction of the airline, a Cargolux spokeswoman said on Saturday.
Qatar Airways bought a 35 per cent stake from the Luxembourg government and other parties last summer, but has decided to pull out after failing to agree on a strategy for the airline during meetings on Friday.
"The Luxembourg and Qatari shareholders disagreed on the future strategic orientation of the airline, which led to Qatar's decision to pull out of Cargolux," a spokeswoman for Cargolux, Europe's largest all-cargo airline, told Reuters.
Qatar Airways was not immediately available to comment. No value was given for the stake when the purchase was announced in June last year.-Reuters