Russian cargo group Volga-Dnepr (VI) is planning to buy Frankfurt Hahn-based carrier Air Cargo Germany (6U). Germany antitrust authorities said that Amsterdam-based Volga-Dnepr Logistics sought approval for the deal March 1. A decision is expected this month.
VI representatives in Russia did not comment on the deal but market experts said 6U is not a profitable asset. VI wants to buy 6U is for its market share and to launch new flights from Europe.
At the end of February, AirBridgeCargo (ABC), a member of Volga-Dnepr Group, failed to get fifth-freedom rights for flights from Frankfurt-on-Main to Chicago.
6U, founded in 2008, operates four Boeing 747-400s on routes including China, South Africa, India and the United Arab Emirates.
Article Source : ATW Daily News
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