CMA CGM has entered into a long-term, 10-year partnership with Air France-KLM in the air cargo segment.
The agreement involves integrating their respective air cargo networks and the joint operation of a fleet of ten cargo planes, in addition to another 12 currently on-order.
The aircraft in question are 4 cargo planes from Cma Cgm Air Cargo (with 8 on order), as well as 6 other freighter aircraft from the French-Dutch group based in Paris Charles de Gaulle and Amsterdam Schiphol, to be joined by 4 more currently on order.
CMA CGM also announced plans to acquire up to 9% of the capital of Air France-KLM, a transaction that could be carried out as part of the possible capital increase announced in February by Air France-KLM.
Meanwhile, the airline’s major shareholders will pledge to support a resolution to appoint a CMA CGM representative to the Air France-KLM board of administration, This has to be approved at the shareholders’ meeting scheduled for May 24th and will be subject to the completion of CMA CGM’s investment in the airline.
Translation by Giles Foster