Qatar Airways has sold its stake in freight-only airline Cargolux , the chief executive of Qatar Airways confirmed on Sunday.

A spokeswoman for the Luxembourg state had said on December 19 that Luxembourg had taken back a stake in Cargolux from Qatar Airways with the intention of selling it on soon. Luxembourg sold the 35 percent stake to Qatar Airways last year, and bought it back for the original sale price of $117.5 million.

(Reporting by Regan Doherty, Writing by William Maclean)