Russia's Volga-Dnepr to buy Air Cargo Germany to gain EU foothold
2012 03 20
- Details
RUSSIA's Volga-Dnepr group plans to acquire Frankfurt Hahn-based Air Cargo Germany (GU) after its cargo airline AirBridgeCargo Airlines failed to gain fifth-freedom rights for flights from Frankfurt to Chicago.
According to industry experts, GU is not thought to be a profitable asset but its routes deployed by four 747-400s to China, South Africa, India and the United Arab Emirates is attractive to Volga-Dnepr keen to gain a foothold in services from Europe.
Source Shipping Gazette - Daily Shipping News
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