Air France-KLM Group and the CMA CGM Group today announced that they have signed a long-term strategic partnership in the air cargo market. With the unrivalled know-how and worldwide presence of Air France-KLM and CMA CGM, both parties will combine their complementing cargo networks, complete freighter capacity, and dedicated services to produce an even more competitive offer. A 10 -year exclusive strategic commercial collaboration to expand their air cargo business
CMA CGM and Air France-KLM share a strong desire to invest in and expand the air freight sector in a sustainable manner. The agreement's initial term will be 10 years. Air France-KLM and CMA CGM will join and operate only their respective airlines' full-freighter aircraft capacity, initially consisting of a fleet of 10 full-freighter aircraft, with an additional combined 12 aircraft on order, consisting of 4 full-freighter aircraft at CMA CGM Air Cargo (with outstanding orders for an additional 8 aircraft, 2 of which may be operated by Air France-KLM in the future) and 6 full-freighter aircraft at Air France- (with outstanding orders for an additional 4 aircraft).
This new commercial collaboration extends to Air France-belly KLM's aircraft capacity, which includes more than 160 long-haul aircraft. The collaboration will use both partners' separate worldwide sales teams to provide a single voice to the client. According to the official release, the strategic commercial relationship is projected to provide considerable revenue synergies, including shared design of entire freighter networks and expanded product and service mix potential.
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November 19, 2019: Finally, Kenya’s National Treasury is planning to close the buyout of Kenya Airways (KQ) by the end of next year.
The buyout plan comes after the State House Kenya voted in July to nationalise the carrier and save it from mounting debts.
The airline has proposed a model similar to Emirates and Ethiopian Airlines, which operate as units of state-owned holding companies.
Under the model, KQ will become one of four subsidiaries in a state-owned aviation holding company.
KQ is 48.9 percent state-owned, 38.1 (lenders), 7.8 percent (Air France-KLM), 2.4 percent (Kenya Airways) employees, and 2.8 percent (individual investors).
The market valuation puts the lenders’ stake at Sh6 billion, Air France-KLM (Sh1.23 billion), Kenya Airways employees (Sh380 million) and investors (Sh443 million).
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