** Sagar Sandesh is now published as BI Weekly E-paper and is being released on Every Monday and Thursday**

CMA CGM and Air France-KLM join forces

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 services.

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 aircraft.

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.
Disclaimer
Copyright © 2020 PORT TO PORT - Shipping Services Portal ( Sagar Sandesh ). All rights reserved.

Follow Us