Deutsche Post World Net and Deutsche
Lufthansa AG are founding a joint cargo airline through their
subsidiaries DHL Express and Lufthansa Cargo.The new company, based in
Leipzig, in which DHL Express and Lufthansa Cargo each hold a 50
per-cent stake, will have the legal form of a private limited company
(GmbH). It will focus on transporting airfreight and express shipments
into and out of Asia. Flight operations are scheduled to begin in April
2009. With the launch of the new cargo airline, the two partners will
further expand significantly their leading position in the airfreight,
respectively, the express business.

Dr. Klaus Zumwinkel, Chairman Deutsche Post World Net and CEO said:
“This is an ongoing development consistent with our intercontinental
joint venture which we began in 2004.  Deutsche Post World Net and
Lufthansa, two of the world’s most successful and professional logistics
operators are pooling their know-how in a new joint company.  DHL will
notably accelerate for customers the exchange of goods between Asia and
Europe through market-leading transit times. That will also
substantially strengthen Germany’s position as a logistics base and
additionally spur the economic upturn in our Country.”

Wolfgang Mayrhuber, Lufthansa Chairman and CEO: “With the new cargo
carrier,  Lufthansa and Deutsche Post World Net are building
consistently on years of highly successful business relations. The new
company will not only strengthen Germany as an economic base but will
also create additional, highly qualified jobs in the Leipzig region. Not
least, our customers will profit from further improvements in the route
network.” 

The new cargo carrier will initially operate with eleven new Boeing
777-200LRF aircraft. The aircraft will be leased and are scheduled for
delivery from February 2009.  The cargo capacities of the new airline
will be utilised by Lufthansa Cargo und DHL Express. The two partners
will continue to take care of marketing and handling those capacities
independently.

Pending the granting of traffic rights, the new airline will gradually
expand its route network from the summer schedule 2009. On weekdays, it
will be serving Singapore, Bangkok, Dubai, Bombay, Shanghai, Hong Kong,
Seoul, Nagoya, Almaty, East Midlands and Milan. At weekends, it will fly
to Shanghai, Astana, Singapore, Bangkok, Sharjah, Hong Kong, Chicago and
New York.

Aside from pure airfreight traffic, the two companies will each alone be
responsible for warehousing and trans-shipment at Leipzig/Halle Airport.
DHL Express will handle its express shipments in the newly built cargo
centre. Lufthansa Cargo will shortly be building its own modern
logistics centre right nearby. 

Carsten Spohr, Chairman Lufthansa Cargo AG: “Joint utilisation of
aircraft capacities will enable us to harness growth opportunities
cost-efficiently. DHL will be commercially responsible for operating the
express network with additional cargo from Lufthansa Cargo on weekdays.
Flight schedules at weekends will suit the customer requirements of
Lufthansa Cargo with onload freight on those flights from DHL.” 

Charles Graham, Chief Executive Officer Aviation DHL Express, added:
“With the new joint company, we will further improve express service
between Europe and the Asia growth markets.  We are thereby augmenting
our global air network strategy. Our customers will profit from more
capacities, better transit times and higher quality all-round.” 

Management of the new airline will be taken over by Dr. Thomas Papke,
formerly Lufthansa Cargo, and Thomas Pusch, previously at DHL. The name
of the new company and its branding will be decided at a later date.
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