Qatar Airways recent announced it had entered into a strategic equity and commercial partnership with Cargolux to acquire a 35 per cent stake in Europe's leading cargo airline. The agreement was signed in Luxembourg (June 9) by Qatar Airways CEO Akbar Al Baker and Cargolux President and CEO Frank Reimen in the presence of the Prime Minister of the State of Qatar, His Excellency Sheikh Hamad Bin Jassim Bin Jabor Al Thani, and Luxembourg's Minister of Finance Luc Frieden. The accord will give Qatar Airways a greater foothold in the growing freight business offering synergies with the cargo operator which has a global reach from its Luxembourg hub. Doha-based Qatar Airways Cargo provides freight services to more than 100 destinations, worldwide using the cargo space available on Qatar Airways' passenger aircraft fleet. In addition, the carrier operates dedicated freighters to over 30 destinations within the airline's international route map. Qatar Airways operates a mixed fleet of 98 passenger, cargo and corporate jet aircraft. Its freighter fleet comprises five aircraft - three Airbus A300-600s and two Boeing 777s flying across six continents. The carrier has a further four Boeing 777 freighters due to join its fleet over the next few years. Cargolux operates a fleet of 16 Boeing 747 freighters flying to over 90 destinations around the world. It will be the launch customer of Boeing's next generation wide body 747-8 Freighters with 13 of the aircraft-type on order. Akbar Al Baker said: "Our investment in Cargolux, a sound, healthy and profitable company and a leading all-cargo carrier, will deliver great value to Qatar Airways proving to be an excellent strategic partnership. We look forward to strengthening our Doha hub with greater freighter operations that will see Cargolux in the not too distant future serve Doha, to create synergies with Qatar Airways Cargo and our freight business on Qatar Airways' passenger flights." Frank Reimen said: "The implementation of the cooperation plan will be a driver of high customer satisfaction, enhance our competitiveness through improved returns and benefit the Luxembourg economy overall through extra trucking and handling tonnage and the creation of new jobs."(mar) pic: cargolux