Evolution in the commercial cooperation in air cargo between Air France-KLM and CMA CGM
January 16 2024 - 2:00AM
Evolution in the commercial cooperation in air cargo between Air
France-KLM and CMA CGM
Paris, Marseille, January 16, 2024
Evolution in the commercial cooperation
in air cargo between Air France-KLM and CMA CGM
In May 2022, Air France-KLM and CMA CGM
announced their intention to enter into a cargo commercial
cooperation, which became effective in April 2023.
The tight regulatory environment in certain
important markets has prevented the cooperation from working in an
optimal way.
As a consequence, Air France-KLM and CMA CGM
today announce their decision to withdraw from their existing
agreements from March 31, 2024. Air France-KLM and CMA CGM have
begun discussions on new terms and conditions of a commercial
relation to operate independently from March 31, 2024 onwards.
Both groups 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, 20251. The parties have agreed that
CMA CGM will step down from the Air France-KLM Board of Directors
on March 31, 2024.
Investor
Relations
Michiel
Klinkers Marouane
Mami
michiel.klinkers@airfranceklm.com marouane.mami@airfranceklm.com
Website: www.airfranceklm.com
1 The initial lock-up undertaking of CMA CGM
(initial lock-up on all the Company's shares subscribed by CMA CGM
in the rights issues announced on May 24, 2022 expiring on June 15,
2025, and subsequent lock-up period on 50% of such shares expiring
on June 15, 2028) is modified to provide that the initial lock-up
period ends on February 28, 2025, without any subsequent lock-up
period.
- Evolution in the commercial cooperation in air cargo between
Air France-KLM and CMA CGM
Air France-Klm (LSE:AIRF)
Historical Stock Chart
From Jun 2024 to Jul 2024
Air France-Klm (LSE:AIRF)
Historical Stock Chart
From Jul 2023 to Jul 2024