CMA CGM acquires Air Belgium to expand air cargo operations

Air Belgium previously reorganized in September 2023 due to multiple external factors such as the pandemic, the geopolitical conflict in Ukraine, high fuel costs, and inflation. These challenges led the carrier to halt its unprofitable passenger service and focus on cargo and ACMI operations. "Despite the many investments by Air Belgium in recent years and the strengthening of commercial initiatives, the Passenger business is still unprofitable," stated the airline as it filed for judicial reorganization, a move designed to negotiate debt reduction with creditors.

CMA CGM's move into air cargo initially featured the operation of four Airbus A330-200F freighters. Air Belgium operated these planes on behalf of CMA CGM, with three eventually re-registered in France. The fourth was taken by Turkey-based MNG Airlines. Furthermore, CMA CGM has shown commitment to expanding its air cargo capacity, as shown by its past orders of new aircraft types such as the A350F.

Adding this acquisition to its portfolio, CMA CGM intends to meet growing customer demand for "agile logistics solutions." The French company had previously forged ties with Air France-KLM, acquiring a stake although commercial partnership between the two was later dissolved due to regulatory challenges. Nevertheless, the French shipper retains its ownership share in Air France-KLM, reportedly an 8.8% stake as of December 31, 2024.

With this strategic move, CMA CGM strengthens its position in the air cargo industry while bringing an end to Air Belgium's financial uncertainties.