Cargolux receives $100m capital injection - International Freighting Weekly

Cargolux receives $100m capital injection - International Freighting Weekly: "Cargolux receives $100m capital injection
By Will Waters

Cargolux’s shareholders have agreed to inject US$200m in the company, with the first $100m to take place before the end of this year.
The Luxembourg-based airline said the recapitalisation became necessary due to losses incurred this year, which are expected to be more than $100m.
The move is part of a two-stage restructuring, with shareholder SAirlines selling its 33.7% stake in the company to current shareholders Luxair, BCEE and SNCI, and the Luxembourg state.
The timing of the SAirlines shares buy-out was driven by the fact that SAirlines, a company in liquidation, cannot participate in the recapitalisation, although it had been planned for some time." --> more