By signing the 10-year deal, the two groups operate freighter capacity with 10 aircraft combined with 12 more on order.
The freighters consist of four operated by CMA CGM Air Cargo with eight more on order, two of which may be operated by Air France-KLM in the future, and six Air France-KLM freighters based at Paris Charles de Gaulle Airport and Amsterdam Airport Schiphol, with four more on order.
The partnership also covers Air France-KLM’s belly capacity and combine both partners’ global sales teams.
It will combine Air France-KLM’s air cargo experience with CMA CGM’s logistics and multimodal network, particularly in sea and land transport.
CMA CGM is investing in Air France-KLM, taking up to a 9% share of the airline’s ex-post share capital, subject to approval from the Board and completion of the deal.
Rodolphe Saade, Chairman and CEO of CMA CGM Group says: “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.”
Benjamin Smith, CEO of Air France-KLM Group says: “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.”