Cargolux has arranged Ex-Im financing for three of the four Boeing 747-8Fs to be delivered to the airline in 2012 and will consider an operating lease for the fourth B747-8F. Cargolux is expected to sell one of its older B747-400Fs to Silk Way Airways. The fourth aircraft, which arrives in February 2012, will be financed by PEFCO under an Ex-Im guarantee. A fifth aircraft, to be delivered in April 2012, will be acquired in a joint venture comprising Cargolux and three equity co-investors - Credit Agricole, DVD Bank and KfW-IPEX Bank, and will draw from Ex-Im-backed debt provided by JP Morgan. A sixth aircraft, arriving in July 2012, looks set to be funded by an Ex-Im bond on the capital market. No plans have been finalized for a seventh aircraft scheduled to arrive in October 2012.

In other action, Qatar Airways has acquired a 35-percent equity stake in Cargolux International Airlines. Cargolux announced the closing of the transaction, which was an agreement signed June 9, 2011. The strategic partnership enables Cargolux to enhance its competitive position as an independent leading air cargo operator. The transaction increases the attractiveness of the Cargolux network through increased reach and scale. It also provides the company with access to additional capacity and new destinations and strengthens the Luxembourg and Doha hubs.

In other air cargo developments, Mercury Air Group announced that it has purchased 50 percent of Trans Asia Charters. The world-wide aviation services company specializing in jet fuel, air cargo and U.S. government contracting, has acquired half of Hong Kong-based TAC), which specializes in medium and long-term wet leases for cargo aircraft and long-term dry leases for passenger aircraft. TAC also operates ad hoc full charters with a special focus on cargo operations. It is also well known for concentrating on niche markets and special/outsized loads.

Argentina plans to build a cargo terminal in the Tucuman airport. The government will provide $28m for construction of a cargo terminal to provide export facilities. The new terminal will have a capacity of 1,000 square meters as well as a cold chamber of 500 square meters to provide service for fruit exports.

Source: Aviation News Weekly