Air France-KLM and CMA CGM will end their commercial agreement due the regulatory environment preventing the cooperation from working as intended.
The companies announced their intention to enter into a cargo commercial cooperation in May 2022, which was launched in April 2023.
In a joint statement, the companies say, “The tight regulatory environment in certain important markets has prevented the cooperation from working in an optimal way.”
They will end the existing agreement on 31 March and have begun discussions on new terms and conditions to operate independently after that date.
CMA CGM remains a core shareholder in Air France-KLM and both parties have agreed to amend the existing lockup on CMA CGM shares in Air France-KLM’s capital, which will be effective until 28 February 2025.
CMA CGM will step down from the Air France-KLM Board of Directors on 31 March this year.