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Monday, May 2, 2011

Qatar Airways to purchase Cargolux stake; eyes more deals

Qatar Airways, one of the Arab world's largest carrier, expects to sign a deal for a 33-percent stake in European all-cargo airline Cargolux in a few weeks, its chief executive said on Monday. Cargolux, Europe's largest all-cargo airline, has previously said it was in talks to sell stake to a strategic investor. "We are soon going to sign an agreement with them (Cargolux) ... in a few weeks. We see there are synergies and Qatar Airways would like to expand," Chief Executive Akbar Al Baker told reporters in Dubai. He did not give a value for the deal. Qatar Airways, half-owned by the Gulf Arab state's sovereign wealth Qatar Investment Authority, will continue to look for other deals in the future, the chief executive said.

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