Luxembourg cargo airline Cargolux has been fined €1.15 million for influence peddling, linked to its activities in Gabon between 2010 and 2015, following a judgment based on an agreement with prosecutors. According to a statement from the Public Prosecutor's Office, only the company itself was targeted by the investigation, with no individuals facing charges.
Authorities emphasised that Cargolux voluntarily came forward in 2015 to disclose the relevant information. Since then, the company has introduced measures to strengthen its internal controls and corporate governance.
Cargolux is majority controlled by public shareholders. The Luxembourg State, the National Credit and Investment Society (SNCI), Spuerkeess, and Luxair together hold a 65% stake in the company, while China's Henan Civil Aviation Development and Investment Company (HNCA) owns the remaining 35%.
On Wednesday morning, Cargolux issued its own statement, confirming the court's decision. The airline said it accepted the fine and reiterated its commitment to operating in an ethical, transparent, and responsible manner.
