Air France-KLM and CMA CGM had initially announced their intent to establish a cargo commercial cooperation, which came into effect in April 2023. However, due to stringent regulatory constraints in specific key markets, the collaboration has faced challenges in achieving optimal functionality.
Consequently, Air France-KLM and CMA CGM have jointly declared their decision to terminate their existing agreements as of March 31, 2024. Discussions have commenced between the two entities to establish new terms and conditions for an independent commercial relationship, effective from March 31, 2024 onward.
Both organisations remain steadfast in their commitment to collaborating and ensuring that cargo customers can continue to leverage the strengths of their respective networks.
CMA CGM, as a core shareholder in Air France-KLM, will see amendments to the existing lockup period for CMA CGM shares within Air France-KLM's capital, which will now remain in effect until February 28, 2025. Furthermore, it has been agreed that CMA CGM will step down from the Air France-KLM Board of Directors on March 31, 2024.
