Cargolux (CV, Luxembourg) is studying the possibility of setting up a new Chinese-based subsidiary aimed at exploiting the country's growing volume in e-commerce trade. According to Cargofacts, Cargolux is also considering using existing belly-hold space on domestic Chinese carriers as an alternative to establishing a new airline.
The study is part of the Luxembourger freight specialist's investment agreement with the Zhengzhou-based Henan Civil Aviation Development & Investment Company (HNCA) which acquired a 35% stake in the cargo specialist for USD231million late lats year.
