News / French windfall tax will saddle CMA CGM with 'competitive disadvantage'

Ramon Fernandez, CFO CMA CGM

Remarks by CMA CGM’s CFO Ramon Fernandez appear to contradict a statement by CEO Rodolph Saade a month ago that it was ready to participate in a French windfall tax scheme, claiming it would make the carrier uncompetitive.

The €800m ($875m) windfall tax, which would be levied over two years, is part of a move by the French government to plug a hole in the budget, which could soon amount to 6% of GDP, according to Reuters.

Last week, the government unveiled ...