Cargolux to request Ex-Im support for 747-8F deliveries

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Luxembourg freight carrier Cargolux will request US Export Import guarantees today at a meeting at the export credit agency's offices in Washington DC.

The airline, which has 13 Boeing 747-8F aircraft on order, already received in November 2009 a preliminary commitment for Ex-Im support covering the first six units to be delivered this year.

Separately, Qatar Airways chief executive Akbar Al Baker expects to conclude the deal for a 35% stake in Cargolux this month, reports ATI.

Al Baker told ATI that the acquisition of a stake in the Luxembourg-based airline comes some six years after talks first began. "It is a strong move for both airlines. There will be so many synergies that benefit us both and it will make Luxembourg a stronger [cargo] hub," he said

Cargolux posted a full-year net profit of $59.8 million for 2010, compared with loss of $153 million in 2009.

Revenue increase by 29.3% to $1.74 billion for the 12 months ended 31 December 2010.