DOHA, Qatar (AP) -- The head of Qatar Airways says the carrier has sold its entire 35 percent stake on the freight hauler Cargolux back to authorities in Luxembourg.
The move comes just months after Qatar Airways boosted cargo services to the U.S. via Cargolux's base. Qatar Airways bought the 35 percent stake in Cargolux in June.
Qatar Airways CEO Akbar al-Baker says the deal was finalized Jan. 1 to sell the share back to the Luxembourg state. He told reporters Sunday that Luxembourg viewed Cargolux as a national carrier that should be fully owned by the state.
Al-Baker said the Doha-based airline is not actively seeking any new alliances or purchases, but is carefully studying reforms that could open the Indian market.
- Mergers, Acquisitions & Takeovers
- Politics & Government
- Qatar Airways