Lufthansa, DHL to launch AeroLogic cargo JV next year
Tuesday January 29, 2008
Lufthansa and DHL Express yesterday announced that their 50/50 joint venture cargo airline AeroLogic will be based at Leipzig/Halle Airport and have a fleet comprising 11 leased 777Fs by 2012.
The first eight aircraft will be leased from Deucalion Capital VII, which is managed by Germany's DVB Bank. Boeing said the 777Fs, valued at $2 billion, originally were ordered by Iceland's Avion Group in 2005 and were "picked up" by Deucalion in late 2007 after Avion terminated its order. Boeing will deliver the first four to AeroLogic next year ahead of the carrier's summer 2009 launch and four more will be delivered in 2010.
AeroLogic, which will paint its aircraft gray and yellow, plans to take delivery of two more in 2011 and one in 2012. No purchase/lease agreement was announced regarding the remaining three aircraft.
LH Cargo Chairman and CEO Carsten Spohr said the JV airline "is the culmination of a successful partnership that has existed for many years between DHL Express and Lufthansa Cargo." The venture first was announced four months ago (ATWOnline, Sept. 21, 2007).
The new carrier will be guided by co-MDs Thomas Papke (from LH) and Thomas Pusch (from DHL). Papke said it aims to rank "among the top five cargo carriers in Europe." Pusch added that AeroLogic plans "to fly a route network which, in addition to the major Asian cities, includes exciting destinations across North America." The company did not provide specifics of the route network. It officially started business yesterday with 20 employees and plans to hire 250 more, including 200 pilots.
LH and DHL will be responsible for sales and warehouse handling for the new carrier. "For customers of the parent companies, AeroLogic will mean more capacity, more flexibility, an expanded network and improved operating times," LH and DHL said.
by Aaron Karp
ATWonline