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Hainan Considers Cargolux Purchase  
User currently offlineLAXintl From United States of America, joined May 2000, 25059 posts, RR: 46
Posted (1 year 8 months 2 weeks 5 days 3 hours ago) and read 1653 times:

The deep pocket HNA Groups is reportedly considering acquiring a stake in Cargolux following Qatar's desire to sell of its 35% ownership.

A bit ironic as HNA as part of its broader overseas expansion strategy lost out to QR in the previous bid for CV.

Story:
http://www.aircargoworld.com/Air-Car...vives-interest-in-cargolux/0411170
and
http://www.chinapost.com.tw/business...2/12/03/362835/Chinese-airline.htm

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From the desert to the sea, to all of Southern California
3 replies: All unread, jump to last
 
User currently offlineLJ From Netherlands, joined Nov 1999, 4418 posts, RR: 0
Reply 1, posted (1 year 8 months 2 weeks 5 days 2 hours ago) and read 1520 times:

Quoting LAXintl (Thread starter):
The deep pocket HNA Groups is reportedly considering acquiring a stake in Cargolux following Qatar's desire to sell of its 35% ownership.

The question is how deep their pockets are. Their all business HKG-LGW adventure didn't last long and I wonder how much they lost in the process. Moreover, their entire HKG business doesn't seem to do well (I read more about route cancellations and reductions than the opposite). Finally, anyone investing in CV must be willing to put a lot of cash on the table as it doesn't seem to going well with them. Personally, I think that QR made the right move to exit CV now they can (without losing a lot of money) as the cargo market doesn't seem to doing great for the next few years (the economic outlook is not good for Europe). Moreover, it's unclear to me whether the other shareholder (Luxemburg government) is more into politics than making the airline healthy. As such a healthy return on investment seems questionable.


User currently offlineLAXintl From United States of America, joined May 2000, 25059 posts, RR: 46
Reply 2, posted (1 year 8 months 2 weeks 5 days ago) and read 1408 times:

Quoting LJ (Reply 1):
The question is how deep their pockets are.

HNA Group (which is a public company) sits on the equivalent of $7.7bil in cash per their stock report.

I would not view the performance of one or two units as indication of the larger group which is involved in more than just airlines. (airports, hotels, real-estate, logistics, retail etc..)



From the desert to the sea, to all of Southern California
User currently offlineLAXintl From United States of America, joined May 2000, 25059 posts, RR: 46
Reply 3, posted (1 year 8 months 1 week 4 days 5 hours ago) and read 1070 times:

News now out that in the short run, the government of Luxembourg will acquire the QR 35% stake, while longer term options are considered.

Also government confirms they are in negotiations with HNA and "other prospective bidders".


Story:
http://www.aircargoworld.com/Air-Car...ent-intervenes-in-cargolux/0711258

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From the desert to the sea, to all of Southern California
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