Air France-KLM Group and the CMA CGM Group today announced that they have signed a long-term strategic partnership in the air cargo market.
This partnership will see both parties combine their complementary cargo networks, full freighter capacity and dedicated services in order to build an even more competitive offer thanks to the unrivalled know-how and global footprint of Air France-KLM and CMA CGM. This new commercial partnership also covers Air France-KLM’s belly aircraft capacity, including over 160 long-haul aircraft.
A 10-year exclusive strategic commercial partnership to strengthen their air cargo offering
CMA CGM and Air France-KLM share a strong ambition to invest and grow sustainably in the air freight business. 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:
- 4 full-freighter aircraft at CMA CGM Air Cargo (with outstanding orders for an additional 8 aircraft, 2 of which may be operated by Air France-KLM in the future).
- 6 full-freighter aircraft at Air France-KLM Group based at Paris-Charles de Gaulle airport and Amsterdam Airport Schiphol (with outstanding orders for an additional 4 aircraft).
CMA CGM Group to become a reference shareholder of Air France-KLM Group
As part of this long-term exclusive partnership, CMA CGM will reinforce its commitment in the air freight industry by becoming a new reference shareholder in Air France-KLM. CMA CGM has the firm intention to take up to 9% of Air France-KLM’s ex-post share capital, for a period consistent with the implementation of the strategic commercial partnership.
This investment could be made as part of the contemplated capital increase of Air France-KLM, as announced on February 17th, 2022. Air France-KLM’s main shareholders will support a resolution for the appointment of one board member representing CMA CGM at the next shareholders’ meeting (May 24th, 2022). Such appointment, if approved by the shareholders’ meeting, would be subject to the completion of CMA CGM’s investment.
Rodolphe Saadé, Chairman and CEO of the CMA CGM Group: “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. This partnership is fully in line with CMA CGM’s strategy and its ambition to become a leader in integrated logistics, for the benefit of its customers. Through our stake in the company, Air France-KLM will be able to count on us to support its future development.”
Air France-KLM Group CEO, Benjamin Smith: “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. I am also extremely pleased that this commercial partnership with CMA CGM has resulted in their decision to invest directly in the Air France-KLM Group, demonstrating a strong testimony of their belief in the future success of our Group.”