The rapid transformation of French transport
group CMA CGM has taken another major step with news the RodolpheSaadé-led company will
invest in Air France-KLM, joining forces in the air cargo domain.
The long-term strategic partnership
signed will see both parties combine
their complementary cargo networks, full freighter capacity and dedicated
The agreement will
have an initial duration of 10 years.
Air France-KLM and CMA CGM will join and
exclusively operate the full-freighter aircraft capacity of the respective
airlines consisting initially of a fleet of 10 full-freighter aircraft, and an
additional combined 12 aircraft on order. This new commercial partnership also
covers Air France-KLM’s belly aircraft capacity, including over 160 long-haul
CMA CGM, which posted a net profit of
$18bn last year, also said today 18 May it would take up to 9% of Air France-KLM’s
ex-post share capital.
It allows us to
significantly accelerate the development of our air division, CMA CGM Air Cargo
Saadé, the chairman and CEO of CMA CGM, said:
“I am very pleased with this strategic partnership with Air France-KLM. It
allows us to significantly accelerate the development of our air division, CMA
CGM Air Cargo, which was created just over a year ago, and to position our two
companies among the world’s leading players in air freight.”
Saadé said the
partnership is fully in line with CMA CGM’s strategy and ambition to become a
leader in integrated logistics.