French Company CMA CGM to Take Upto 9% Share in Air France-KLM Group

The ten-year agreement will see CMA CGM buy up to 9% of Air France-stock KLM's and install a CMA CGM representative to the Air France-KLM Group board of directors.

Highlights

  • The collaboration, which was announced on Wednesday, would see CMA CGM Air Cargo's four full-freighter aircraft pair up with Air France-KLM Group's six full-freighter aircraft.
  • The cargo capacity of the Air France-KLM Group's 160 long-haul passenger aircraft is also a factor.
  • CMA CGM, along with its subsidiary CEVA Logistics, transports 400,000 tonnes of air freight annually and operates in 160 countries.

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The Air France-KLM Group is combining its complementary cargo networks, including aircraft fleets, with a large French container transportation and shipping enterprise. The ten-year agreement will see CMA CGM buy up to 9% of Air France-stock KLM's and install a CMA CGM representative to the Air France-KLM Group board of directors.

The collaboration, which was announced on Wednesday, would see CMA CGM Air Cargo's four full-freighter aircraft pair up with Air France-KLM Group's six full-freighter aircraft. The cargo capacity of the Air France-KLM Group's 160 long-haul passenger aircraft is also a factor. Both companies claim that the agreement will result in considerable revenue synergies, including as shared design of entire freighter networks and expanded product and service mix potential.

"This strategic partnership leverages the complementary skills, expertise, and activities of Air France-KLM and CMA CGM. It is a landmark step which will significantly strengthen and expand the Group's position in the air cargo industry," Air France-KLM Group CEO Benjamin Smith stated.

CMA CGM, along with its subsidiary CEVA Logistics, transports 400,000 tonnes of air freight annually and operates in 160 countries. The European powerhouse airline group operates a vast full freighter and widebody belly aircraft network centred on two global hubs: Paris-Charles de Gaulle (CDG) and Amsterdam Airport Schiphol (AMS), both of which are equipped with cutting-edge cargo facilities and serve 295 destinations in 110 countries.

Datchanapriya is a journalism and mass communication student from Chennai. Has always been passionate about writing and connecting with people.

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