| Does Cargolux own its aircraft? Except for short-term leases
used to meet short-term requirements, Cargolux is the economic owner of
12 of its 13 aircraft. Ownership of most of its fleet was possible because
Cargolux was able to secure competitive financing. Cargolux continuously
monitors its asset risk and, in particular, the market value of its aircraft
and the company does not exclude to use operating lease structures for
some of its aircraft. |