PARIS, Might 18 (Reuters) – French delivery agency CMA CGM will take a stake in Air France-KLM (AIRF.PA) as An factor of an air cargo companionship, betting on rising demand for flying items Throughout the globe as current chains stay snarled Inside the wake of the pandemic.
CMA CGM will take As a lot as 9% of Air France-KLM, worth about 240 million euros ($252 million) based mostly on Tuesday’s closing worth, An factor of a potential capital enhance by the airline group All by way of their companionship That is initially set to run for 10 yrs, The two corporations said.
It will make CMA CGM the 4th largest shareholder, Based on Refinitiv knowledge, and mirrors An identical initiative deliberate by delivery agency MSC, which has teamed up with Germany’s Lufthansa (LHAG.DE) on A potential bid for Italian airline ITA Airways. study extra