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Air France-KLM, CMA CGM Sign 10-year Partnership To Strengthen Air Cargo Offering

Air France-KLM Group (AFRAF.PK) Wednesday said it has signed a long-term strategic partnership with CMA CGM Group, a French provider of sea, land, air and logistics solutions, to strengthen their air cargo offering.

Under the 10-year exclusive partnership, both companies will combine their complementary cargo networks, full freighter capacity and dedicated services.

The agreement will have an initial duration of 10 years. Air France-KLM and CMA CGM will join and exclusively operate the full-freighter aircraft capacity of the respective airlines consisting initially of a fleet of 10 full-freighter aircraft and an additional combined 12 aircraft on order.

This will include 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-KLM Group based at Paris-Charles de Gaulle airport and Amsterdam Airport Schiphol, with outstanding orders for an additional 4 aircraft.

The new commercial partnership also covers Air France-KLM's belly aircraft capacity, including over 160 long-haul aircraft.

The commercial partnership would generate significant revenue synergies including the joint design of the full freighter networks and enhanced products and services mix opportunities.

Further, as part of the long-term exclusive partnership, CMA CGM will become a new reference shareholder in Air France-KLM. CMA CGM has the firm intention to take up to 9% of Air France-KLM's ex-post share capital, for a period consistent with the implementation of the strategic commercial partnership.

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