Change at CLX
 

Ok, three weeks old now. Still, maybe news to someone. Many staff not impressed with board room antics.
Anyone looking for a job? ;)

Heiner Wilkens has resigned as president and chief executive of
Cargolux Airlines after an apparent dispute with the board of directors
over the growth plans at the 747-400 freighter operator.


Airline Chairman Roger Seitzen is serving as interim chief executive
while a search is conducted for a new leader of one of the world's largest
freight airlines, officials at the carrier's Luxembourg headquarters said.


Wilkens' surprise resignation came as Cargolux reported one of the best
years in its history, with $739 million in revenue in 2000 and a $36
million operating profit. The revenue grew 15 percent on a 17 percent gain
in traffic, to more than 3.8 billion revenue tonne kilometers, and a 12
percent gain in actual tonnage.


Wilkens had hoped to use the airline's improving financial picture as a
foundation for rapid growth and had an initial public offering of Cargolux
stock in his sights as one option for funding the purchase of more
aircraft. Cargolux has 10 747-400s in its fleet and is scheduled to take
delivery on one more this year and another in 2002.


Wilkens has been head of the airline since 1995 and presided over a
fleet overhaul in which Cargolux replaced its older 747-200s with the
newer, more efficient * and more expensive * 400 editions of the Boeing
jumbo jet.


© 2001 Air Cargo World Magazine


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rgds Rat

Cold feet in the black leather room on the 3rd floor? Or did the last mohicans from SAirGroup (now Swissair Group) try to kill something here too, just to be sure not to make more mistakes?

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There's nothing like a three-holer...

Hunter,

I heard cold feet and that maybe his expansion plans were a bit to much in their eyes.Pity,he pushed CV to its present state now and maybe without him,they would have stopped at 6 x 400s and not have the global network the have today.

There was talk of up to 25 -400s, which worried a few people. Its all got to be paid for. I don't think SR was really involved.

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rgds Rat

CR2

so the 33% shareholder has no saying? :-)

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There's nothing like a three-holer...

H58. I don't think they we're behind this. I believe it was the other 66% (Luxair & banks). Could be wrong, just my impression.

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rgds Rat