CMA CGM to buy 30% stake in French airline company
Under the leadership of Rodolphe Saade, the Marseilles-based CMA CGM continues to diversify from its liner roots.
The company announced yesterday that it was buying a 30 percent stake in Groupe Dubreuil Aero, a French airline. Via a capital increase and the purchase of ordinary shares, CMA CGM will gain a EUR 70 m stake and will hold two seats on the board of Dubreuil Aero.
The Air Caraibes and French Bee lines that operate mainly between mainland France and overseas French territories are operated by Dubreuil Aero.
“The acquisition of this stake will enable the CMA CGM Group to strengthen its position in air freight,” Rodolphe Saade Saade, CEO of the company stated.
CMA CGM completed its purchase of CEVA Logistics last year, with the French firm eager to raise air freight revenues.
Maritime Business World