So that seems to be the
logical and indeed sad conclusion of a murky mismatch caused at the hands of
the Luxembourg government. The hasty and secret deal with QR bears many marks
of incompetent, ill advised, confused, legally questionable and otherwise
incomprehensible strategies. Except on the Qatari side, which had a vision tied
to their own business plan, negotiating skills that provided for a very good
deal with a new partner which obviously was extremely weak, superficial and
according to the chief Qatari negotiator, “incompetent”!
The only flaw in the Qatari
concept (and its Luxembourg allies) was that it is not foreseeable in Qatari
culture that public opinion and unions might beat you back. It is a hard lesson
learnt, also for the Luxembourg government, that by being careless, unprepared,
uncoordinated and incompetent you jeopardize international relations because of
your behavior. And don’t come up again with the excuse that chit chat ruined
your marvelous project. By the way, try to buy back QR’s 35% for $1, not $117.5
million. That’s the value of Cargolux clients taken by QR during this venture.
There is a plan B.
Please, reassure us that negotiators on our side are not the same again! And
please sell new shares to the newcomers to raise cash, not those belonging to
the crowd that jumps off!
Unfortunately, there is
more to come. From a 2010 profit for CV, losses are back due to the loss of
clients and tough economic times. There were also 18 months of lost opportunity
during this failed marriage. Together, that will still be a tough situation to
correct.
Just saw your news, thanks for posting it, and what you have written is true, I hope that the government will at last see some sense!
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