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Etihad "goes Cargolux" ???

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Etihad "goes Cargolux" ???

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Old 3rd May 2005, 06:55
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Question Etihad "goes Cargolux" ???

Hello,

i know its in "German lingo" - but following found on www.aero.de

[url]http://www.aerointernational.de/index.php?http://cm.jahr-tsv.de/aero-intern/in...80405_11-1.php

28.04.2005
Etihad Airways
Einstieg bei Cargolux
Die in Abu Dhabi ansässige Fluggesellschaft Etihad Airways plant die Übernahme von 33,7 Prozent der Anteile an der luxemburgischen Frachtairline.
Wie ein hochrangiger Cargomanager aus der Golfregion gegenüber der AERO INTERNATIONAL bestätigte, habe es zwischen der Frachtdivision Etihad Crystal Cargo und dem Cargolux-Vorstand hierüber bereits konkrete Gespräche gegeben. Die Anteile sind gegenwärtig in der Schweiz bei der Kanzlei Wenger Plattner Anwälte geparkt, welche die Liquidationsmasse der SAir Logistics treuhänderisch verwaltet. Dieses war die Muttergesellschaft der 2001 pleite gegangenen Swissair, die sich 1996 mit 33,7 Prozent an Cargolux beteiligt hatte.
Den aktuellen Wert dieses Anteilspakets beziffern Finanzexperten aus Abu Dhabi auf „140 bis 150 Millionen US-Dollar“. Es wäre voraussichtlich auch der Kaufpreis, den der arabische Newcomer bei einer Übernahme der Cargolux-Anteile zu bezahlen hätte. Sollte es zum Vertragsabschluss kommen, würde das Geld rund 250 Gläubigern der bankrotten SAir Logistics zugute kommen.
Wie Nachlassverwalter Karl Wüthrich von der Kanzlei Wenger Plattner auf Anfrage der AERO INTERNATIONAL sagte, gibt es diverse Interessenten für die Cargolux-Anteile. Dabei würde es sich um mehrere Logistikunternehmen und Finanzinvestoren handeln. Konkrete Kaufverhandlungen gibt es nach den Worten Wüthrichs gegenwärtig nicht. „Im Interesse der Gläubiger geht es uns um einen guten Preis und nicht um einen schnellen Verkauf“, so der Anwalt. Ob auch Etihad Airways zu den Bewerbern um das bei ihm geparkte Anteilspaket der ehemaligen Swissair gehört, wollte Wüthrich nicht kommentieren.
Dies bestätigten stattdessen Etihad nahestehende Kreise aus Abu Dhabi gegenüber der AERO INTERNATIONAL . Angesprochen auf den möglichen Einstieg der arabischen Linie bei Cargolux sagte ein dortiger Frachtexperte, dass dies „eine sehr vorteilhafte strategische Anlage für Etihad“ wäre. So passten die Geschäftsphilosophien beider Gesellschaften gut zueinander, und die Netzwerke der Fluglinien ließen sich leicht miteinander verknüpfen.
Etihad Crystal Cargo könnte die von Cargolux nach Abu Dhabi geflogene und für die umliegende Region bestimmte Fracht am dortigen Flughafen übernehmen und zu Zielorten in Arabien, auf dem indischen Subkontinent oder Ostafrika weiter transportieren. Umgekehrt würde Cargolux im Falle des Zusammengehens einen Teil der von Etihad beförderten Cargosendungen in das weltweite Netzwerk der luxemburgischen Linie einspeisen. Auch bei der künftigen Flottenpolitik, der Netzwerkentwicklung und der Bodenabfertigung könne man eng kooperieren.
Für den 1970 gegründeten luxemburgischen Frachtflieger wäre es nicht das erste Mal, dass sich eine andere Fluggesellschaft finanziell an ihm beteiligt. So hielten die isländische Loftleidir und die Deutsche Lufthansa bereits Anteile an Cargolux, bevor sich nach dem Verkauf des Lufthansa-Pakets 1996 die SAir Holding mit zunächst 24,5 Prozent einkaufte, die sie kurz darauf auf 33,7 Prozent aufstockte. Seit deren Insolvenz 2001 gab es immer wieder Interessenten, Verkaufsverhandlungen aber blieben bislang aus.

Anyone out there heard something on this "rumor"28.04.2005
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Old 3rd May 2005, 07:12
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If I knew what it said I could tell you
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Old 3rd May 2005, 07:23
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Hi "Matatu",

its bascically talking about a "stron rumor" that Etihad will purchase into Cargolux by means of aquiring the "ex Swissair shares"... and this magazin refers to a "high-ranked cargo manager from the middle east"...
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Old 3rd May 2005, 07:34
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Had heard rumours of similar. Those shares have been in limbo for ages now; at least some clarity will be brought into the situation.
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Old 3rd May 2005, 07:40
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Yep, heard about it, too. A rumour of course, and not the first (nor the most original) re the ex SAir (not Swissair!) shares.

Wait and see.
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Old 3rd May 2005, 08:48
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By the wonders of Google toolbar...

28.04.2005
Etihad Airways
Entrance with cargo lux
In Abu the Dhabi resident airline Etihad Airways plans the assumption of 33,7 per cent of the portions of the of Luxembourg freight airline.
How a high-ranking cargo manager from the Gulf region confirmed INTERNATIONAL opposite the AERO, it had given already concrete discussions to Etihad Crystal cargo and the cargo lux executive committee between the freight division concerning this. The portions are at present in Switzerland parked at the kanzlei Wenger Plattner of lawyers, whom the liquidation mass of the SAir Logistics administers on trust. This was the parent company of the 2001 broke gone Swissair, which had taken part 1996 with 33,7 per cent in cargo lux.
Experts of financial politics from Abu Dhabi number the current value of this portion package on "140 to 150 million US dollar". It would be presumably also the purchase price, which the Arab Newcomer would have to pay with an assumption of the cargo lux portions. If it should come to the conclusion of a contract, the money approximately 250 creditors bankruptcies of the SAir Logistics would benefit.
How administrator of the estate said Karl Wuethrich of the kanzlei Wenger Plattner on request of the AERO INTERNATIONAL, there are various prospective customers for the cargo lux portions. It would concern several logistics enterprises and financial investors. There are not concrete purchase negotiations after the words Wuethrichs at present. "in the interest of the creditors it concerns to us a good price and not around a fast sales", so the lawyer. Whether also Etihad Airways belongs to the applicants around the portion package of the former Swissair parked with it, did not want to commentate Wuethrich.
This confirmed instead Etihad intimate circles from Abu Dhabi opposite the AERO INTERNATIONAL. Responded on the possible entrance of the Arab line with cargo lux a there freight expert said that this would be "a very favourable strategic plant for Etihad". Thus business philosophies of both societies fit well to each other, and the networks of the airlines could be linked easily with one another.
Etihad Crystal cargo could transfer and the freight at the there airport, intended flown from cargo lux to Abu Dhabi, for the surrounding region, and to destinations to Arabia, on which Indian Subkontinent continues to transport or East Africa. Cargo lux was turned around in the case of the Zusammengehens a part of the cargo endings carried by Etihad into the world-wide network of the of Luxembourg line to feed. Also during the future fleet politics, the network development and the soil dispatching one can cooperate closely.
For 1970 created of Luxembourg freight fliers it would not be the first time that another airline takes part financially in it. Thus the Icelandic Loftleidir and German Lufthansa already held portions of cargo lux, before after the sales of the Lufthansa package 1996 the SAir getting thing with first 24.5 per cent bought itself, which supplemented her briefly on it on 33,7 per cent. Since their insolvency 2001 it gave to prospective customer, sales negotiations however was missing again and again so far.


Now it all makes sense (sort of?!?!?)
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Old 3rd May 2005, 09:14
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Interesting one, this.
The GM Cargo at Etihad is ex LH Cargo and was MD of Lufthansa Cargo India back in the 90s.....!
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Old 3rd May 2005, 11:10
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I think it made more sense in German!
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Old 3rd May 2005, 14:59
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Anyone have details of Etihad's links with Emirates?
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Old 3rd May 2005, 22:08
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Flying_Frisbee,

Both Etihad and Emirates are UAE carriers ! Does this answer your question ?
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Old 4th May 2005, 10:45
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this is one of those 'mid east' interests stories.. eithad are predatory and are out to become the mid east number 1 ahead of gulf air and emirates.. there are strong connex with the gov of abu dhabi and all that lovely oil money.
for the rest ..wait and see..
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Old 4th May 2005, 20:11
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Strange enough the same wording as here ('strategic investment', 'mutually beneficial') has also been used by Klaus Knappik.

What people do not absolutely realize is that if you buy the shares then it is not you going to take over CLX but the other way round...

As it should have been in the case of Cargolux/SwissCargo...

Ahhh, egoes.....
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