Air France-KLM, CMA CGM end deal

Air France-KLM and CMA CGM announced 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," says an official release from Air France-KLM.

Both groups remain committed to work collaboratively to ensure cargo customers can continue to benefit from their respective networks, the release added.

Air France-KLM and CMA CGM announced their intention to enter into a cargo commercial cooperation in May 2022, which became effective in April 2023.

CMA CGM remains a core shareholder in Air France-KLM, the release added. "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."