From our European Editor Alex Lennane comes this analysis of a critical decision to be made in Luxembourg today. We excerpt a few key details, and those interested in the full story can click here to see it on Alex’s Loadstar blog.
The fate of Cargolux could be decided tomorrow. The new Luxembourg government today considers the proposal from Henan Civil Aviation Development & Investment Co (HNCA), and is expected to receive a report from an advisor recommending the sale to the coalition.
Other bidders appear to think an investment in Cargolux is a good move as well, and Robert Song, who is acting as a senior advisor to the Henan Government acknowledged there were other bids “on the table”. “I don’t think anyone is going to give up a good investment opportunity.” HNCA’s bid, however, seems to be in the lead. One senior source toldThe Loadstar: “Poor Cargolux – killed by greed and a government that knows nothing about air cargo, or it would stop this.”