Paris — Franco-Dutch airline holding company Air France-KLM says it is pairing up with a major French logistics firm to improve their air cargo business.
Air France-KLM Group said on Wednesday it has signed a long-term strategic partnership with CMA CGM Group, a French provider of sea, land, air and logistics solutions.
Under the exclusive partnership, both companies will combine their complementary cargo networks, full freighter capacity and dedicated services. The agreement will have an initial duration of 10 years.
Air France-KLM and CMA CGM will join and exclusively operate the full-freighter aircraft capacity of the respective airlines consisting initially of a fleet of 10 full-freighter aircraft and an additional combined 12 aircraft on order.
This will include four full-freighter aircraft at CMA CGM Air Cargo, with outstanding orders for an additional eight aircraft, two of which may be operated by Air France-KLM in the future; and six full-freighter aircraft at Air France-KLM Group based at Paris-Charles de Gaulle airport and Amsterdam Airport Schiphol, with outstanding orders for an additional four aircraft.
The new commercial partnership also covers Air France-KLM's belly aircraft capacity, including over 160 long-haul aircraft.
The commercial partnership would generate significant revenue synergies including the joint design of the full freighter networks and enhanced products and services mix opportunities.
Further, as part of the long-term exclusive partnership, CMA CGM will become a new reference shareholder in Air France-KLM.
CMA CGM has the firm intention to take up to 9% of Air France-KLM's ex-post share capital, for a period consistent with the implementation of the strategic commercial partnership.
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