CMA CGM Group has completed the acquisition of Air Belgium’s cargo division, incorporating four freighter aircraft into its air cargo fleet, according to the company's release.
The transaction was approved by the Brabant Wallon Commercial Court on March 27, following CMA CGM's binding offer submitted on March 19.
The asset transfer agreement with the liquidator has been finalized, ensuring the continuation of Air Belgium's cargo operations under its existing brand.
The acquisition includes two Airbus A330-200Fs and two Boeing 747-8Fs, which will be operated from Belgium.
CMA CGM Air Cargo, based at Paris-Charles de Gaulle Airport, currently operates regular services with Boeing 777F aircraft to destinations including Hong Kong and Shanghai, and an Airbus A330F to Zhengzhou. The fleet will be further expanded with the addition of an extra Boeing 777F and eight Airbus A350Fs starting from 2027.
Damien Mazaudier, Executive Vice President of CMA CGM's air division, stated: “The acquisition of Air Belgium marks an important step in the expansion of the CMA CGM Group’s air freight operations in Europe and worldwide. It immediately strengthens our air capacity while addressing current logistical challenges.”
This move follows Air Belgium's decision in September 2023 to discontinue its passenger services due to financial difficulties, focusing solely on cargo and ACMI operations. An earlier takeover attempt by the Air One Belgium consortium was revoked by the Nivelles enterprise court due to delays, leading to CMA CGM's successful bid.
CMA CGM Group is a French shipping and logistics company founded in 1978, headquartered in Marseille. It is one of the world's largest container shipping companies, operating a fleet of over 500 vessels. In recent years, CMA CGM has diversified into air cargo, establishing CMA CGM Air Cargo in 2021 to offer integrated logistics solutions.
Air Belgium is a Belgian airline established in 2016, initially offering long-haul passenger services. Facing financial challenges, the airline ceased its scheduled passenger operations in October 2023, shifting focus to cargo and ACMI services. Air Belgium's cargo fleet includes Airbus A330-200Fs and Boeing 747-8Fs.