Air France-KLM and CMA CGM announce agreement to unite air transport operations

Container operator CMA CGM has announced that it has purchased a stake in Air France-KLM to combine the two companies’ air freight operations amid soaring demand for transporting goods since the pandemic began.

The agreement, which will have a ten-year term, provides that the companies will jointly operate air transport operations, including a fleet of ten specific cargo planes and another twelve that are still to come. The pact also involves transport operations on Air France-KLM passenger aircraft.

As part of the agreement between the two companies, CMA CGM will buy a 9% stake in Air France-KLM. The majority of shareholders in the airline will support the entry of CMA CGM on the board.

CMA CGM has been conducting air transport operations since March last year, when most planes were still on the ground because of the pandemic. Since then, the company has been growing its fleet, including adding an Airbus A350.

Source: Valor Econômico

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https://valor.globo.com/empresas/noticia/2022/05/18/air-france-klm-e-cma-cgm-anunciam-acordo-para-unir-operaes-de-transporte-areo.ghtml

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