Forwarders face margin squeeze as growth cools and disruption persists
The global freight forwarding market is still growing, but the industry’s easy gains appear to ...
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By Alex Lennane
CMA CGM Air Cargo has swooped in to bid for Air Belgium, after a Dutch consortium had its bid rejected by a Belgian court.
CMA confirmed that it has put in a bid: “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,” said a spokesperson.
The bid is thought to be for the carrier’s cargo operations, name, brand, and four aircraft.
The Dutch group of Air One International Holdings and Peso Aviation, run by air cargo veteran Peter Scholten, is thought to be appealing the decision by Nivelles Business Court to block its bid, claiming the decision was based on flawed information.
It had met all the obligations required, including applying for an air operator licence and negotiating aircraft lease terms, according to Belgian media. The appeal will be heard on 3 April.
The court’s decision led to the bidding process for the Belgian carrier being reopened; a gap into which CMA stepped. The new deadline for bids is 27 March and there are reports that other bidders have also come forward.
Air One had said it would retain about half Air Belgium’s 400-strong workforce; it is not yet clear what CMA would do, which is thought to be a key consideration for the court.
Air Belgium operates three aircraft for China’s Hongyuan Group, two A330-200Fs and a 747-8F. Another 747-8F was delivered in December, according to Planespotters, but is stored at a Dutch military air base.
CMA CGM’s fleet includes a A330-200F and three 777Fs, one operated by Atlas Air and two more on order. It also has eight A350Fs on order, expected to be delivered from 2026 onwards.
After a slow start upon launch in Q1 21, CMA CGM Air Cargo seems to be finally spreading its wings; last month it announced it had put its capacity on three booking portals – CargoAi, cargo.one, and WebCargo.
It also announced plans to develop an air cargo hub in Chicago as part of a $20bn investment in the US, in what looked like a French response to potential tariffs. It said it would operate its 777Fs out of the hub “to strengthen US trade”.
CMA has history with Air Belgium, agreeing a CMI deal for two A330-200Fs in 2021. At the time, observers questioned the aircraft type, which operates best for express shipments, according to one source, rather than general cargo.
“This aircraft is not viable for standard air freight – only carriers like DHL and express companies want an A330F,” said the source.
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