CMA CGM has placed a bid for Air Belgium's cargo operations following a court move to revoke Air One Belgium’s takeover of the business and its subsequent plans to appeal the decision.
The container shipping giant, which operates CMA CGM Air Cargo, has submitted a bid for Air Belgium's cargo business that will be reviewed by the Walloon Brabant Business Court on 27 March, reported Aviation24.be.
The bid, which includes Air Belgium’s cargo operations, retention of the Air Belgium name and brand, plus the airline’s four aircraft, will also be evaluated by Belgium's Enterprise Court.
CMA CGM Group told Air Cargo News: "As part of the process to take over Air Belgium, the CMA CGM Group confirms that it has submitted a bid. This offer aims to ensure the continuity of Air Belgium’s cargo operations. We are now awaiting the Tribunal’s decision."
The two companies know each other well. When CMA CGM Air Cargo first entered the market, its flights were operated by Air Belgium.
A joint venture (JV) from UK cargo firm Air One International Holdings and Dutch company Peso Aviation Management gained approval for their proposed takeover of struggling Air Belgium’s cargo business in December but the proposal was later rejected.
The Nivelles enterprise court revoked the acquisition process early this month, stating that the takeover by the Air One Belgium JV was taking too long and had therefore failed.
The court gave Air Belgium a final deadline of 27 March to find an alternative investor or face liquidation.
Then on 13 March, it was confirmed that Air One Belgium would appeal the court decision to end its proposed takeover.
In a statement shared with Air Cargo News, Scholten said Air One Belgium was ”extremely disappointed” by the court decision and intended to immediately appeal.
Air Belgium's operations have been in trouble for quite some time.
In September 2023, Air Belgium said it had decided to discontinue its own passenger business and focus exclusively on “cargo and ACMI for passenger and cargo flights” due to economic challenges that have resulted in the airline acquiring debt.
But while the airline underwent a judicial restructuring, it had been seeking investors to provide financial stability.
Meanwhile, CMA CGM's cargo airline CMA CGM Air Cargo began operating in 2022 and has since continued to grow its fleet, network and air cargo business share.
CMA CGM Air Cargo currently operates four freighters; three Boeing 777Fs, plus a single Airbus A330F. In the short term, two more 777Fs are expected to be delivered to the airline.
The airline has also ordered eight Airbus A350Fs, although Airbus has recently pushed back the entry-into-service date of its A350F to the second half of 2027.
CMA CGM Air Cargo previously had plans for fewer aircraft, but revised its fleet investment goals following the breakdown of its partnership with Air France KLM.
