Hi Pow-Wow,
I'll try to clarify. Based on the conversations I had with friends working for ICV, they are expecting this situation in Luxembourg to help them in their quest of business success, which as you know it has been tarnished by numerous political and financial issues. The idea is to take advantage of the Italian "lower cost" structure and position extra 400s in MXP while offering pilots, that in LUX could have lost their job, to continue working on the same airplane, under the Cargolux umbrella but under the Italian terms and conditions, which are less precious and valuable than the Cargolux mainline ones.
Since I don't work for any of the two companies, nor for Qatar Airways, apologies if this does't sound accurate enough, although I felt i could contribute by giving a little heads up about what's cooking also on the other side of the Alps. On one thing I do agree 100% with you: they are putting up a "divide and conquer" type of strategy. Best option is to wait up together, let the storm pass and do a damage assessment afterwards. Taking any decision or position at this time would be hasty and probably wrong because it would be based on rumors and not on any checked fact.
Good luck. Ciao!
alby