Russian cargo group Volga-Dnepr (VI) has completed the acquisition of Frankfurt Hahn-based carrier Air Cargo Germany (6U) for a 49% stake. The value of the deal has not been disclosed but VI senior VP Sergey Shklyanik said the group refinanced 6U’s debts for €15 million ($19.5 million) as part of the deal.
VI subsidiary AirBridgeCargo Airlines (ABC) will synchronize its schedule with 6U, ABC executive president Tatyana Arslanova said. ABC will still attempt to get fifth-freedom rights for flights from Frankfurt Main to Chicago Arslanova noted.
6U, founded in 2008, operates four Boeing 747-400s on routes including China, South Africa, India and the UAE.
Article Source : ATW Daily News
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