| CARGOLUX CANCELS WAR RISK SURCHARGE Luxembourg, 14 April 2003 - Following the recent developments in Iraq and the trend towards normalization in terms of air space restrictions in the Gulf regions, Cargolux Airlines has decided to cancel its war risk surcharge on all shipments effective 21 April 2003. The Luxembourg-based company, evaluating the present situation favorable for a return to a normal operating pattern on its network to and from the Gulf region, has consequently decided to cancel the 0.10 Euro/kg war risk surcharge – or equivalent in local currency – on all shipments. The war risk surcharge had been implemented on 26 March 2003 in order to compensate for additional costs and operational risks generated by air space restrictions by several Gulf States. This had translated to lower payloads, longer routings and higher fuel, handling and equipment costs for the concerned airlines. At that time, Cargolux also announced that the war risk surcharge was to remain in place until the company could return to a normal operating pattern. Cargolux, based in Luxembourg, is Europe’s largest all-cargo airline, operating a modern fleet of 12 B747-400 freighters on a worldwide network, covering 90 destinations, 50 of which are served on scheduled all-cargo flights. The company has more than 85 offices in over 50 countries and also offers an extensive trucking network to more than 50 destinations in Europe and the US as well as charter and aircraft maintenance services. Cargolux employs more than 1300 staff worldwide. For more information, please
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