CMA CGM acquires cargo operations of Air Belgium, retains 124 employees

French logistics giant CMA CGM has announced the acquisition of the cargo division of Belgian airline Air Belgium, including 124 of its employees. Despite the acquisition, the Air Belgium brand will continue to exist, and its cargo aircraft will remain based in Belgium.

The announcement appears to conclude the takeover saga surrounding Air Belgium, which was undergoing a court-supervised transfer procedure following financial difficulties. Initially, the airline’s cargo unit was set to be acquired by Air One Belgium — a consortium comprising Dutch company PESO Aviation Management and UK-based Air One Holding International. However, in early March, a commercial court overturned that approval. CMA CGM, already well-established in the global shipping industry, then stepped in as a candidate for the acquisition.

Air Belgium’s cargo activities include a fleet of four freighter aircraft. Of the airline’s 401 employees, 124 will continue under CMA CGM, including 72 pilots. The freighters will keep operating from Belgium under the Air Belgium name.

The deal also marks a continuation of the existing relationship between Air Belgium and CMA CGM. In March 2021, the French group launched its own air cargo division, CMA CGM Air Cargo, with initial flights operated by Air Belgium out of Liège Airport — marking Air Belgium’s entry into the air freight sector.

Founded in 2016 and based in Walloon Brabant, Air Belgium originally launched with passenger services. However, in September 2023, the airline ceased its passenger flights to South Africa and Mauritius due to chronic unprofitability. The company subsequently entered judicial reorganisation, followed by a transfer under judicial authority. Air Belgium officially filed for bankruptcy on Wednesday, confirming it can no longer refund tickets for over 10,000 passengers affected by its sudden flight cancellations to South Africa and Mauritius. All unpaid claims, including those from passengers, employees, and partners, are now under the authority of a court-appointed liquidator.