PRESS RELEASE
CARGOLUX TO NEGOTIATE WITH BOEING FOR THE PROCUREMENT OF NEXT GENERATION AIRCRAFT
Luxembourg, 20th July 2005. - The Board of Directors of Cargolux has authorized Management to enter into negotiations with Boeing for the procurement of a minimum of 10 Boeing B747 Advanced Freighters (ADV F) for delivery beginning as of 2009.
The Board decision is the culmination of a thorough and lengthy selection process. For some time, Cargolux had encouraged aircraft and engine manufacturers to build a new generation aircraft offering better economics and environmental protection.
More recently, Cargolux had launched an in-depth analysis of all factors relevant to the decision, leading to the selection of a successor aircraft to the B747-400F currently operated by the company.
The B747-ADV freighter will combine state-of-the-art airframe and engine technology. Environmentally, this aircraft will meet all future noise limitations and assure lowest emissions and allow Cargolux to maintain its profitability in an environment marked by very high fuel prices.
Cargolux President and CEO Uli Ogiermann stated: “ Management’s recommendation to the Board is the result of a very thorough analysis during which we assessed which aircraft was best suited to our fleet renewal in the next decade. The fact that we enter into negotiations with the Boeing company is based purely on commercial considerations, supported by the environmental benefits the B747-ADV F offers.”