Cargolux China (Zhengzhou) has pushed back its launch date until the fourth quarter of 2018, reports supply chain publication The Loadstar. CEO of Cargolux (CV, Luxembourg), Richard Forson, has blamed China's current anti-corruption moves for the delay.
"China is undergoing a major anti-corruption drive at the moment, which has made partners over there cautious," he is reported as saying.
Meanwhile, economic news site Paper Jam reports that delays have also been caused by China's foreign investment rules.
"Chinese legislation is not very clear regarding the participation of a foreign company beyond 25%," the site reports Francois Bausch, Luxembourg's Minister of Development, Sustainability and Infrastructure, as saying.
Cargolux China is a joint venture with Henan Civil Aviation Development and Investment Co (HNCA), with the Luxembourg-based freight specialist holding a 35% stake. It is intended to be based out of Zhengzhou, which is Cargolux's largest hub in mainland China. According to its annual report, Cargolux carried more than 100,000 tonnes of freight to and from Zhengzhou in 2016. Cargolux currently operates 24x weekly flights between Europe and China.
