The rumour that Atlas would buy into Cargolux has been going around for the last 5-6 years that I can think of. That aside, to the best of my knowledge, the shares are still in the hands of a swiss bank. Problem is that the shares are not exactly a bargain, since we again posted a pretty good profit last year (considering 9/11, fuel prices).
The comment about AFX is not correct. Atlas offered us N537MC (which is an ex CLX -200 NCD aircraft with far superior performance) for a bargain price (so I'm told).
I've heard a rumour that the Luxembourg Govt would buy the shares. I just wish we'd damned well buy them ourselves. As you may be aware, we've been without a CEO for a year now. We won't get a new one until the shares question is resolved. Obviously someone who buys 33.7% will want a say in who the CEO will be.
I've heard a rumour that Atlas has in fact bought +-20% of Cargolux.
I've heard so many rumours, that I can't even remember them all!!!
There are plenty of things going on behind the scenes.
I do see a certain inevitability about these rumours though. We have had a couple of your management types over here to "indentify & discuss any possible synergies". I understand nothing really came out of it for the time being.
So, the short answer is that like most people, I don't really know, but have certainly heard the same kinds of rumours.
rgds
Edit: just a correction: SwissGlobal did not own the shares, it was Swissair. SwissGlobal was the name Panalpina adopted when they got together with SwissCargo. They now call themsevles ASB Air.
Last edited by CR2; 16th April 2002 at 10:24.