It's official: Qatar Airways to split from Cargolux
LW Archive
(ADW) It is now official! Qatar Airways is pulling out of Cargolux and the Chairman of the Board Albert Wildgen is resigning. Rumours regarding the split circulating throughout the day were confirmed by Transport Minister Claude Wiseler to the "Luxemburger Wort".
On Friday a strategic Cargolux board meeting was held which included Qatar Airways head Akbar Al Baker.
What Qatar Airways wanted was the interim CEO and CFO of Cargolux, Richard Forson, to become the permanent CEO. However Luxembourg shareholders had ruled this out at a meeting that layed out the strategic future of the company, explained the Minister of Transport.
Akbar Al-Baker’s response was that there was no point in continuing with Cargolux and therefore Qatar Airways would pull out of the agreement.
Albert Wildgen, the outgoing Cargolux CEO
Albert Wildgen’s resignation
At the same time the resignation of Albert Wildgen as Chairman of Cargolux became known. According to RTL, he will still remain in the post until the end of November, a position he has only held since September 2011 as the successor to Marc Hoffmann.
Just how soon Qatar Airways will split from Cargolux and and who will take over their 35 percent of the company is not yet clear, emphasised Minister Wiseler.