Photo: Air Belgium
CMA CGM’s planned takeover of Air Belgium’s cargo operations has taken a step forward after it gained court approval for the deal, which includes the firm’s fleet of four freighters.
The Marseille-based shipping giant gained authorisation for the takeover from the Brabant Wallon Business court on 27 March after it submitted a proposal on 19 March.
The offer includes the full takeover of Air Belgium’s cargo operations, along with its fleet of four aircraft: two Airbus A330-243F and two Boeing 747-8F.
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.
The acquisition also 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,” Air Belgium told Air Cargo News.
“The company’s activities will continue to develop from Brussels and Liège airports.”
The decision allows the company to restart the transfer process of its activities, Air Belgium said.
The two companies know each other well. When CMA CGM Air Cargo first entered the market, its flights were operated by Air Belgium.
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.
A previous takeover proposal fell through in March, casting doubt on the future of the Belgian airline.
Another company, Air One Belgium, 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, 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.
