Air France-KLM and CMA CGM have announced their decision to withdraw from their cargo commercial cooperation from the end of March 2024, due to constraints of a “tight regulatory environment”.
However, the firms have “begun discussions” on new terms and conditions of a new commercial relationship to operate independently from March 31, 2024 onwards.
In May 2022, Air France-KLM and the French shipping and logistics company announced their intention to enter into a cargo commercial cooperation, which became effective in April 2023.
But in a joint press release the firms state that the tight regulatory environment in certain important markets has prevented the cooperation from working in an optimal way.
Both groups also state that they remain committed to work collaboratively, to ensure cargo customers can continue to benefit from their respective networks.
CMA CGM remains a core shareholder in Air France-KLM.
The parties have agreed to amend the existing lockup on CMA CGM shares in Air France-KLM’s capital, which will now be effective until February 28, 2025. The parties have agreed that CMA CGM will step down from the Air France-KLM board of directors on March 31, 2024.