French carrier CMA CGM and Air France-KLM have agreed to cease their air cargo partnership, as the tight regulatory environment in certain important markets has prevented the cooperation from “working in an optimal way.”
CMA CGM and Air France-KLM announced in May 2022 their intention to enter into a cargo commercial cooperation, which became effective in April 2023.
However, the two companies said that due to the “tight regulatory environment” they made the decision to withdraw from their existing agreements from March 31, 2024.
Air France-KLM and CMA CGM have begun discussions on new terms and conditions of a commercial relation to operate independently from March 31, 2024 onwards.
As both companies claim, they “remain committed to work collaboratively, to ensure cargo customers can continue to benefit from their respective networks.”
CMA CGM remains a core shareholder in Air France-KLM. The parties have agreed to amend the existing lockup on CMA CGM shares in Air France-KLM’s capital, which will now be effective until February 28, 2025.
The parties have agreed that CMA CGM will step down from the Air France-KLM board of directors on March 31, 2024.
