Cargolux announces appointment of new Board Chairman

Cargolux International Airlines S.A. today announced the appointment of Albert Wildgen as Chairman of the Board, effective 16 September 2011. Albert Wildgen, President of the Administration of the Estate of His Royal Highness the Grand Duke of Luxembourg, has been an independent director since the closing of the strategic partnership transaction between Cargolux and Qatar Airways on 8 September 2011. He succeeds Marc Hoffmann, Chairman of the Board of LuxairGroup, who remains a director of the Cargolux Board.

In its first meeting, the new Cargolux Board reviewed the financial and business situation of the Company and evaluated potential measures to strengthen its competitive position in the current volatile market climate. The Board further approved the terms and conditions of the ground handling agreement as negotiated in March 2011 between Adrien Ney, President and CEO of LuxairGroup, and Frank Reimen, President and CEO of Cargolux.

The term of office of the Board of Directors expires at the next Annual General Meeting of Shareholders in the second quarter of 2012.

Cargolux Board of Directors:

Chairman:
Albert Wilgen, Independent Director

Luxair representatives:
Marc Hoffmann, Chairman of the Board, LuxairGroup
Adrien Ney, President and Chief Executive Officer, LuxairGroup
Françoise Thoma, Executive Vice President, BCEE
Tom Weisgerber, Premier Conseiller de Gouvernement, Ministère du Développement durable et des Infrastructures

Qatar Airways representatives:
Akbar Al Baker, Chief Executive Officer, Qatar Airways
Richard Agutter, Consultant
Dr. Hussain Al Abdulla, Qatar Investment Authority

BCEE representative:
Jean-Claude Finck, President and Chief Executive Officer

SNCI representative:
Gaston Reinesch, President
Cargolux staff representatives
Pierre-Olivier Edouard, First Officer
George Karambilas, Captain
Fred Lopes da Silva, Technician (Sr), Line and Hangar Maintenance
David Massaro, Supervisor (Sr), Material Repairs
Astrid Mosel-Kneip, Permanent delegate, Staff delegation