The "strategic partnership" in air freight between Air France-KLM and CMA CGM, established in May 2022 and effective since April 2023, is in a dire situation and will come to an end on March 31, 2024. The Franco-Dutch airline and the world's third-largest container shipowner announced this in two identically worded press releases on Tuesday, January 16. They justify the decision by citing "a constrained regulatory environment in certain important markets," notably the United States, which "did not allow the cooperation to function optimally."

Rodolphe Saadé, chairman of the major Marseille-based group with a 9% stake in Air France-KLM, will step down from the latter's board on March 31, as the two companies become competitors once again. CMA CGM is Air France-KLM's third-largest shareholder, behind the French state (28.6%) and the Dutch state (9.3%), ahead of China Eastern Airlines (4.7%) and American group Delta Air Lines (2.9%).

For the time being, the new agreement allows the shipping group to hold its stake until February 28, 2025. However, the two partners have removed the clause requiring it to hold 50% of its shares until June 15, 2028 – a sign of its likely withdrawal next year. From now on, "each group will operate independently," according to their press releases, although they "remain committed to working together, so that cargo customers can continue to benefit from their respective networks."

It was a dispute between the Dutch government and the American authorities, against a backdrop of high trade tensions between Europe and the United States, that led to the mutual agreement, said a source close to the story. For antitrust reasons, CMA CGM Air Cargo's aircraft were not authorized to serve the US from Amsterdam-Schiphol, Europe's third-largest airport hub, since its partner was already associated with Virgin Atlantic and Delta Air Lines, a consortium with significant influence in the transatlantic air freight industry. This obstacle deprived CMA CGM of opportunities in a strategic market where it has been strengthening its position over the past two years by acquiring terminals in the ports of Los Angeles-Long Beach and New York-New Jersey.

Furthermore, airfreight is not doing well, with business stagnating. "Yields will continue to be negatively impacted by the continued growth of belly capacity (related to strong growth on the passenger side of the business) while international trade stagnates," said the International Air Transport Association in early December.

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