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French shipping company to take stake in Air France-KLM as part of air freight expansion

LONDON—French container shipping company CMA CGM Group said it would take a stake in Air France-KLM as part of an agreement to combine the two companies’ air cargo operations amid an explosion in cargo demand since the start of the pandemic.

Under a 10-year agreement, the two companies will combine and jointly market their air cargo operations, including a fleet of 10 dedicated cargo aircraft along with 12 other jets on order. The agreement also covers the belly cargo operations of Air France-KLM passenger aircraft, which include more than 160 long-haul aircraft.