News / CMA CGM invests €25m to help Brittany Ferries recover from Covid collapse

CMA CGM is set to take a “quasi equity” stake in French cross-channel ferry operator Brittany Ferries.

The two carriers have signed a letter of intent to “unlock synergies between the two companies in passenger and freight transport”.

CMA CGM will plough €25m ($29.5m) into Brittany Ferries, which has experienced a torrid pandemic as passenger volumes dropped dramatically in the aftermath of lockdowns and veered perilously closer to financial ruin.

Revenues in 2020 more than halved, to €202.4m, compared with 2019’s €469m, as ...