Qatar Airways To Sell Cargolux Stake
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.
Qatar Airways bought a 35 percent 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 said.
No value was given for the stake when the purchase was announced in June last year.