The Marseille-based logistics heavyweight has filed a bid to acquire Air Belgium’s cargo unit. Its advance follows the decision of a Belgian court that turned down the bid of Dutch Group Air One International Holdings and Peso Aviation headed by Dutch entrepreneur, Peter Scholten. According to local sources, the Walloon Brabant Business Court will review CMA CGM’s proposal on 27MAR25. It can be assumed that CMA CGM will emerge as the winner of the bidding competition.
CMA CGM confirmed that it has submitted its bid to the Enterprise Court of Brussels. It therein focuses solely on the Belgian carrier’s cargo activities, including its aircraft. The step comes after the 06MAR25 ruling of the Nivelles Business Court that had revoked Air One Belgium’s bid to take over the ailing Belgian carrier. Right after the ruling, the Netherlands-based Air One consortium lodged an objection questioning the court decision. On this occasion, the competent court has scheduled a hearing, which will take place in two weeks.
CMA CGM offers attractive conditions, observers say
According to local sources, CMA CGM’s bid includes the takeover of Air Belgium’s cargo unit and operations. Secondly, it guarantees the retention of the Belgian carrier’s name and brand. And finally, it includes the integration of Air Belgium’s four freighter aircraft into its own freighter fleet of four units (one A330-200F, three B777F), thus doubling its transport capacity.
In case CMA CGM wins the bid, it is unclear how many of the current 400 employees will be taken on by the French group. Bidder Air One Belgium had promised to retain almost 200 jobs. However, 130 employees were laid off weeks ago due to the airline’s grave financial problems.
Next steps
The hearing scheduled for 27MAR25, will only take a preliminary decision on the fate of Air Belgium’s cargo division. This is followed by a court ruling on 03APR25, when the judges will decide on Air One Belgium’s appeal. According to people close to the case, Peter Scholten’s legal objection has little chance of success.
Scholte had offered EUR 800,000 for the takeover of a controlling stake of 51% of the carrier. A bargain at first glance. Yet, the company is heavily indebted and the aircraft, two A330-200P2Fs and two B747-8Fs, are leased. Should cargo veteran Scholten, who has held leading positions at Martinair and Saudia Cargo, be out of the game, he still has a second professional mainstay: adventure tours with SUVs in Oman, Kenya, and Central Asia.
So far, the founder of Air Belgium, former TNT executive, Nicky Terzakis, still has a small hope of regaining control. The court has given him three weeks to find new investors to rescue the ailing airline. However, there are currently no signs that he will succeed.
