Our European editor Alex Lennane reports that rumors of AirBridgeCargo is moving its headquarters from Moscow to Luxembourg are true, with the new office already “up but not running”.
No date has yet been set for it to become fully functioning, but ABC is hoping to attract new management through having an office in the EU. “High-ranking executives will be based there,” said a source close to the carrier. “Staff will be on the payroll for an EU company. Nobody is interested in working in Moscow. Not even the Russians,” he added.
Others have pointed to advantageous tax laws in Luxembourg as another reason behind the move. The HQ shift, which will see a holding company formed in Luxembourg, applies to management personnel only, with the aircraft still operating on a Russian AOC. The move had originally been thought to be tied to AirBridge parent Volga-Dnepr’s plan to bid for a 35% stake in Luxembourg-based all-cargo carrier Cargolux, but now appears to be going ahead despite the fact that Volga-Dnepr is unlikely to gain the stake.
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