CMA CGM acquires Air Belgium’s cargo division in strategic move
After the court's order and following the takeover, CMA CGM Air Cargo's fleet will expand from four to ten operational aircraft in the future.
In a major move, the French shipping and logistics company CMA CGM has acquired Air Belgium’s cargo business. The transfer was granted by the Brabant Wallon Business Court.
In a statement to The STAT Trade Times, Air Belgium mentioned, “Following the hearing held on Thursday, March 27, Air Belgium confirms that the Brabant Wallon Business Court has authorised the transfer of Air Belgium’s activities to the French maritime group CMA CGM. This decision allows the company to restart the transfer process of its activities.
The offer from the maritime group CMA CGM includes the full takeover of Air Belgium’s cargo operations, along with its fleet of four aircraft: two Airbus A330-243Fs (A330-200F) and two Boeing B747-8Fs. This acquisition aims to retain 186 employees out of a total of 401. Positions in administrative, operational, ground, and flight staff, as well as flight crew (across all aircraft categories), will be maintained regardless of contract type. The company’s activities will continue to develop from Brussels and Liège airports.
As a reminder, the French maritime group CMA CGM had submitted an official offer to take over Air Belgium’s activities to the court-appointed practitioner, M. Vanham. On Wednesday, March 19, he filed a request with the Brabant Wallon Business Court seeking authorisation to transfer Air Belgium’s activities to CMA CGM.”
Notably, CMA CGM was not the only bidder. Earlier, Air One Belgium, a joint venture between the UK’s Air One International and the Dutch company Peso Aviation Management, submitted a bid for Air Belgium, which was accepted in December 2024.
However, the Walloon Brabant Enterprise Court rejected Air One Belgium’s takeover of Air Belgium’s cargo business in March this year.
The court subsequently established March 27 as the deadline for Air Belgium to obtain an alternative investor or risk liquidation.
Air Belgium encountered severe turbulence in its operations due to the impact of the COVID-19 pandemic, the conflict in Ukraine, and rising fuel prices. As a result, the airline discontinued its scheduled passenger flights on October 3, 2023, shifting its focus to cargo and ACMI (Aircraft, Crew, Maintenance, and Insurance) operations.
In February 2022, Hongyuan Group, a Chinese cross-border trade service provider, invested in Air Belgium, acquiring a 49% stake. All four of its aircraft are operating for Hongyuan Group.
Meanwhile, CMA CGM Air Cargo, the air cargo division of CMA CGM, was launched in February 2021 and began operations in March 2021. Since then, it has experienced substantial growth, rapidly expanding its operational footprint.
The airline currently operates a fleet of four aircraft, consisting of one Airbus A330F and three Boeing 777Fs. According to data from Planespotters.net, two more Boeing 777Fs are set to join its fleet soon. The airline has also placed an order for eight Airbus A350Fs.
CMA CGM group recently announced plans to invest $1 billion in new air cargo operations in the U.S. as part of a proposed $20 billion investment over four years.
The STAT Trade Times has also reached out to CMA CGM for their comment on the takeover.
