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CMA CGM buys into French airline

Photo of Sam Chambers Sam ChambersSeptember 24, 2020
2 6,004 Less than a minute

Marseille-headquartered CMA CGM continues to diversify from its liner origins under the leadership of Rodolphe Saade. 

The company revealed yesterday it is buying a 30% stake in French airline company Groupe Dubreuil Aero. CMA CGM will acquire the EUR70m stake via a capital increase and acquisition of ordinary shares and will obtain two seats on the board of Dubreuil Aero.

Dubreuil Aero owns the Air Caraibes and French Bee lines, which operate primarily between mainland France and overseas French territories.

“The acquisition of this stake will enable the CMA CGM Group to strengthen its position in air freight,” Saade said in a statement.

Last year, CMA CGM completed its acquisition of CEVA Logistics with the French company keen to bolster revenues from air freight. 

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Photo of Sam Chambers Sam ChambersSeptember 24, 2020
2 6,004 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Comments

  2. EUR70m a bargain price !! They will probably lay off the entire staff and hire you again for half the salary in the third world.

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