The pandemic has had different consequences on Cma Cgm, the third largest container ship operator in the world, based in Marseille and owned by the French-Lebanese family Saadé, and on Air France-KLM, which has the French state as the largest shareholder with 28.6%. . The ecommerce boom, the need for international transport and the increase in tariffs have led Cma Cgm to profits of 17 billion in 2021, while the pandemic has cost Air France-KLM losses of 11 billion in two years. The two giants are now joining forces in the fast growing air freight transport sector.
It is a 10-year strategic partnership, which gives life “to one of the main global players in air cargo transport,” said Rodolphe Saadé, president of Cma Cgm. The two partners share the cargo aircraft fleets: for now they are six from the Franco-Dutch group and four from the logistics giant, then it will reach 22 in 2027, in addition to the holds of 160 Air France aircraft.
The alliance will not be limited to this. In February, the Franco-Dutch group, which is in dire need of liquidity, announced a capital increase of 4 billion, in which Cma Cgm will participate, reaching 9% of Air France-KLM. The initiative seems to be a response to the Lufthansa-MSC synergy on Ita, which plans to enhance freight transport in the event of victory in the race to privatize the former Alitalia. And, according to Le Monde, the operation could strengthen Air France-KLM and relaunch its chances of conquering the Italian company.