Brussels – French logistics powerhouse CMA CGM has submitted an official bid to acquire the cargo operations of financially troubled airline Air Belgium, the airline announced on Wednesday. The move comes after a court ruling upended a prior takeover deal and reopened the bidding process.
Following months of delays and stalled negotiations, a Belgian court ruled on March 6 that the bid from Air One Belgium, a consortium comprising PESO Aviation Management and Air One Holding International, was no longer permitted to proceed.
The court decision revoked an earlier authorization granted in December 2024, allowing Air Belgium to transfer its operations to the consortium. Consequently, the window for new offers was reopened until March 27, bringing fresh contenders into the picture.
Air One Belgium, the original frontrunner in the takeover battle, has challenged the ruling, arguing that it has met all necessary conditions to complete the acquisition. The consortium has lodged an appeal, set to be heard by the Brussels Court of Appeal on April 3.
CMA CGM’s bid is now set to be examined by the business tribunal of Walloon Brabant next Thursday. Sources close to the acquisition process suggest that multiple parties have expressed interest in acquiring Air Belgium’s cargo operations.
The French logistics group, which has previously collaborated with Air Belgium, seeks to integrate the airline’s cargo operations into its expanding air freight division.
If successful, CMA CGM intends to retain the Air Belgium name and brand for its cargo services, operating the airline’s four dedicated cargo aircraft.
However, uncertainties remain regarding the future of the airline’s workforce. While Air One Belgium’s proposal included retaining 197 of the 401 workers currently employed at Brussels Airport, CMA CGM has not yet disclosed whether it plans to preserve jobs at Air Belgium.
This issue is likely to be a critical point of concern for employees and unions amid the ongoing negotiations. Air Belgium has faced severe financial challenges in recent years, struggling to recover from the disruptions caused by the Covid-19 pandemic.
The airline has attempted to pivot towards a more cargo-focused strategy, but ongoing operational and financial hurdles have made a sustainable turnaround difficult.
For CMA CGM, the acquisition aligns with its broader ambitions in the air cargo sector. The Marseille-based company has been expanding its presence in air freight, having launched CMA CGM Air Cargo in 2021 and acquired stakes in airlines such as Air France-KLM to bolster its logistics capabilities.
The bid for Air Belgium’s cargo arm reflects a strategic push to further solidify its position in the European air freight market.
As legal proceedings unfold and bids are assessed, the fate of Air Belgium’s cargo operations remains uncertain.
Industry stakeholders will closely monitor developments in the coming weeks as the court deliberates on Air One Belgium’s appeal and the Belgian tribunal reviews CMA CGM’s offer.
This article was created using automation technology and was thoroughly edited and fact-checked by one of our editorial staff members
