LONDON—French container shipping firm, CMA CGM Group, said it would take a stake in Air France-KLM as part of a deal to combine the airfreight operations of both companies amid a boom in demand for cargo since the start of the pandemic.
Under a 10-year agreement, the two companies will combine and jointly market their airfreight operations including a fleet of 10 dedicated freighter aircraft as well as another 12 jets on order. The deal also covers the belly-cargo operations of Air France-KLM’s passenger aircraft, which includes more than 160 long-haul aircraft.
