Shipping group CMA CGM invests in air cargo
25 / 09 / 2020
By Damian Brett
French shipping group CMA CGM has acquired a 30% stake in Groupe DUBREUIL Aéro as it looks to gain access to air cargo capacity.
CMA CGM, which also owns logistics company Ceva, injected €50m into the airline group, which owns the Air Caraïbes and French Bee companies, for its stake.
This deal was approved by Groupe DUBREUIL Aéro employee representative bodies but is still subject to the approval of the competition authorities in France, French Polynesia and Austria as well as authorization from the French Ministry of Economy and Finances.
“The CMA CGM Group provides its recognized logistics expertise to contribute to the development of Groupe DUBREUIL Aéro cargo activity, notably through Hi Line Cargo, a subsidiary tasked with commercial distribution of freight on Air Caraïbes and French Bee’s aircraft,” the company said in a statement.
Air Caraïbes and French Bee operate 14 long-haul aircraft, including eight Airbus A350s and also six A330s, offering cargo capacity of between 15 and 25 tonnes of freight.
CMA CGM said that since the reopening of Orly on June 26, Air Caraïbes and French Bee have refocused their routes on overseas territories and benefit from important affinity traffic maneing they can access French overseas markets, cushioned from geopolitical or health constraints.
The new partners said that through their cooperation, they aim at supporting and enhancing economic development in Guadeloupe, Martinique, Guyana, Reunion and Polynesia.
“The synergy between the CMA CGM Group and Groupe DUBREUIL Aéro will notably enable the CMA CGM Group to offer its clients services that are complementary to ocean freight, while keeping a hold on the transport chain in markets served by both groups,” CMA CGM added.