Air France-KLM: strategic partnership with CMA CGM
(CercleFinance.com) - Air France-KLM and CMA CGM today announce that they have signed a long-term strategic partnership in the air cargo sector, pooling their cargo networks, all-cargo aircraft capacity and dedicated services.
Under the terms of the agreement, which has an initial term of 10 years, on an exclusive basis they will jointly operate the entire capacity of their respective airlines' all-cargo aircraft, i.e. 10 all-cargo aircraft in operation, with a further 12 on order from both groups.
As part of this partnership, CMA CGM will become a new reference shareholder of Air France-KLM, investing up to 9% of the ex-post capital, and will have a representative appointed to its board of directors.
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Under the terms of the agreement, which has an initial term of 10 years, on an exclusive basis they will jointly operate the entire capacity of their respective airlines' all-cargo aircraft, i.e. 10 all-cargo aircraft in operation, with a further 12 on order from both groups.
As part of this partnership, CMA CGM will become a new reference shareholder of Air France-KLM, investing up to 9% of the ex-post capital, and will have a representative appointed to its board of directors.
Copyright (c) 2022 CercleFinance.com. All rights reserved.