Transforming a French connection
Air France-KLM and CMA CGM have decided to withdraw from their existing agreements on 31 March 2024, stating that "a tight regulatory environment in certain important markets has prevented the cooperation from working in an optimal way."
The agreements were announced in May 2022 and only took effect in April last year. The airline and the shipping line have begun talks on new terms and conditions for a commercial relationship to operate independently from April onwards.
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 28 February 2025. They have also agreed that the French shipping line will step down from Air France-KLM’s board of directors on 31 March 2024. (ah)