The airfreight division that CMA CGM launched in March will be taken over by Air France-KLM, it has emerged, after the French line failed to get CMA CGM Air Cargo off the ground.
From the start detractors noted that the Marseille-run carrier lacked the required experience to take to the skies.
This was just one of the criticisms following May’s announcement.
It was furthermore noted that the development involved routes used by old aircraft, A330Fs, previously operated by Air Belgium, and including multiple stops, eroding profit margins.
It has, however, also taken delivery of two new 777Fs.
The joint venture has until December 1 to reach fruition.
The AF-KLM twist to CMA CGM’s air cargo ambitions is still receiving criticism among executive circles in the industry, with many saying that the full commercial control that the former will have means the line will take too much of a back seat.
Of interest though is the 9% shareholding that CMA CGM has acquired in AF, of which 50% can be sold once a three-year share sales restriction has expired.
