French shipping giant CMA CGM has officially bought Air Belgium, taking over the struggling airline’s brand, four cargo planes, and 124 of its 401 employees. The move gives CMA CGM a stronger presence in Europe and adds a third air cargo hub in Belgium, joining its existing operations in France and the U.S.
CMA CGM confirmed the deal on April 30, stating that the newly acquired aircraft will continue to fly under the Air Belgium name from Brussels and Liège. “The functions of administrative, operational, ground, and flight staff, as well as cockpit crew (all aircraft categories combined), will be retained, regardless of the type of contract,” the company said.
This acquisition ends a rough chapter for Air Belgium, which entered court-supervised reorganization in September 2023. The airline had faced one challenge after another, including the pandemic, the war in Ukraine, high fuel prices, and inflation. It shut down its passenger flights and focused on cargo operations, including leasing aircraft and providing crew services.
“Since its creation, Air Belgium has had to face a series of challenges, including several years of global crises brought on by COVID-19, the war in Ukraine, and others,” said Niky Terzakis, CEO of Air Belgium. “Of course, we would have preferred a different outcome for our passenger operations, which impacted some of our employees and customers. However, this transfer was the only viable option after all other rescue paths were explored.”
CMA CGM has been in the air cargo industry since 2021 and is experiencing rapid growth. It currently runs nine aircraft and has more on the way, including Boeing 777Fs and Airbus A350Fs. The company is also expanding in the U.S., with an air cargo hub in Chicago.
Damien Mazaudier, Executive Vice President of CMA CGM’s Air Division, said the Air Belgium deal is “an important step in the expansion of the CMA CGM Group’s air freight operations in Europe and worldwide. It immediately strengthens our air capacity while addressing current logistical challenges.”
The company said it plans to create custom freight services for shippers and forwarders, and that keeping the Air Belgium brand helps maintain local experience and trust.
