Cargolux Expands Presence in Vietnam

The Luxembourg based cargo airline is expanding its services to Vietnam, with the addition of a second flight into Ho Chi Minh City, and a fourth frequency to Hanoi.

Responding to demands from shippers for increased air freight space, the airline has increased its service from December 2, 2014 - operating Tuesday’s, departing Luxembourg at 05:05, with arrival at Ho Chi Minh City at 19:20 and Hanoi at 22:55 (GMT). The return flight will arrive into Luxembourg on Wednesdays at 14:05.

The airline has been serving the Vietnamese market since 2007, and Cargolux should expect an increase in its exports, as its customers forecast substantial increases in volumes for 2015.

The biggest investor in Northern Vietnam, Samsung, is building up its Vietnamese production of LCD monitors during the first quarter of 2015 in Ho Chi Minh City. The electronic retailer has operated factories in the Bac Ninh province since 2009 and in Thai Nguyen since 2013.

After Microsoft acquired Nokia, it transferred production lines to Vietnam and is expected to operate 39 production lines of smart phones in the country by 2015, with an estimated export volume of 50,000 tonnes per year.

LG Electronics is investing $1.5 billion US dollars in a new productions facility in Hai Phong City for smart phones, to add to its manufacturing of electronic goods such as televisions, refrigerators and air conditioning units in Vietnam.

Cargolux is Europe’s biggest all-cargo airline with a fleet of modern Boeing 747-400 and 747-8 freighters, and was the launch customer for both aircraft types. Its worldwide network covers over 90 destinations and consists of a fleet of 22 aircraft with an average age of 7.7 years.

48 percent of all exports from Hanoi are destined for Europe and the US, while 33 percent travel to Asian destinations.

The Vietnam Transport Ministry expects air cargo shipments to grow by as much as 23 percent in 2014, although industry experts say 80 percent of the country’s gross domestic product will be its exports in 2014. Total exports have risen 13.4 percent in comparison to 2013.

Vietnam’s GDP between January and October 2014 has grown 5.54 percent against the same period in 2013, while export turnover has increased by 13.4 percent, and import turnover has risen by 11.2 percent.


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