December 24 - In a statement issued by the Grand Duchy of Luxembourg, it has confirmed that it has re-acquired its 35 percent shareholding in freighter airline, Cargolux.

Luxembourg state sold its share in the all-freight carrier to Qatar Airways in 2011 but has subsequently bought back the stake at the original sale price of USD117.5 million.

Luxembourg state has declared that it intends to sell its shareholding in the near future and is in talks with a number of potential buyers.

It was reported at the start of December that Qatar Airways decided to pull out of Cargolux after failing to agree on a strategy for the B747 freighter operator.