The Board of Directors of Cargolux Airlines International S.A. today approved entering into a Commercial Cooperation Agreement with Henan Civil Aviation and Investment Co., Ltd. (HNCA).

This resolution paves the way for a close and mutually beneficial partnership between Cargolux and the airline’s future Chinese investor following the recent decision by the State of Luxembourg to sell its 35% stake to HNCA pending formal approval by the relevant Chinese authorities.

"This transaction will enable Cargolux to be well positioned to profit from the trade movements generated by one of the world’s most dynamic and fastest developing economies and a province with an accelerating domestic appetite for goods transported by air", stated Paul Helminger, Chairman of the Board of Directors of Cargolux.