Qatar Airlines to sell Cargolux stake after strategy differences

Qatar Airlines to sell Cargolux stake after strategy differences

(Reuters) – 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 on Saturday.

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 told Reuters.

Qatar Airways was not immediately available to comment.

No value was given for the stake when the purchase was announced in June last year.

(Reporting By Ben Deighton. Editing by Jane Merriman)

http://www.reuters.com/article/2012/11/17/us-cargolux-qatar-idUSBRE8AG0AU20121117

Didn’t see this posted. I know Qatar Airways has its own cargo division, but there stake in Cargolux always seemed odd.

Now that Qatar Airways is joining Oneworld, perhaps BA World Cargo will be a better fit for the region.