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Why CMA CGM is joining forces with Air France-KLM

2022-05-18T17:33:52.136Z

The shipowner will take up to 9% of the capital of the air carrier and establishes a partnership in air freight.



But why is CMA CGM flying to the aid of Air France-KLM?

The Marseilles shipowner, now in great shape, does not hesitate to approach a barely convalescent air carrier, which has accumulated nearly 11 billion euros in losses over the past two years.

On Tuesday, the two groups announced together that they had entered into a

“major long-term strategic partnership in air cargo”.

With this agreement,

“CMA CGM will become a reference shareholder of Air France-KLM”.

Clearly, the world's third largest container ship operator will take up to 9% of the Franco-Dutch company.

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At first glance, it's the Roissy-based group that does the trick.

Its management has been repeating it for several months: Air France-KLM needs to strengthen its equity to the tune of 4 billion euros, in particular via a capital increase.

For this, the group is counting on the support of current shareholders and is also looking for new investors.

The French (28.6%) and Dutch (9.3%) states have…

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Source: lefigaro

All business articles on 2022-05-18

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