Henan aviation firm to take stake in Cargolux

Henan Civil Aviation Development and Investment Co Ltd, a State-owned company in Henan province, has purchased a 35 percent stake in Cargolux Airlines International SAS, the Dahe Daily reported.

The total value of the transaction is $231 million, including a 35 percent stake in the company and a $10 million expansion fund, according to the newspaper.

Zhengzhou Xinzheng International Airport will become Cargolux's second hub globally after the transaction is completed, and the freight carrier will open new routes from Luxembourg to Zhengzhou, the capital of Henan province, with four flights weekly.