CMA CGM has confirmed it is aiming to take over Air Belgium, after a court deemed its bid admissible.
Last week it was revealed that CMA CGM had put in a takeover offer for the cargo operations of the distressed carrier, which is insolvent. An original bid by Air One and a Dutch group, Peso Aviation, was ruled out by the court, reportedly over missed deadlines.
CMA CGM said in a statement: “In the context of the Air Belgium acquisition process, the CMA CGM Group confirms that it has submitted a takeover offer, selected by the insolvency practitioner and deemed admissible by the Court.
“This offer aims to ensure the continuity of Air Belgium’s air freight operations. We are continuing to take the necessary steps to finalise this takeover, in compliance with the ongoing legal procedures.”
CMA CGM’s bid is thought to be for the carrier’s cargo operations, name, brand, and four aircraft. The Belgian carrier has two A330-300Fs on lease, with an average age of 18 years, operated for China’s Hongyuan Group, although one appears to be parked, according to planespotters. It also has two 747-8Fs, 12 years old, also operating for Hongyuan.
The Dutch bidders were thought to be appealing the decision by Nivelles Business Court to block its bid, claiming the decision was based on flawed information. The appeal will be heard on Thursday – but it is unclear, now the court has approved CMA’s bid, whether it will make a difference.
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.
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.
CMA has history with Air Belgium, agreeing a CMI deal for two A330-200Fs in 2021.
