Air Belgium faces bankruptcy within two weeks after no investors found: reports
Air Belgium, which halted its passenger flight operations in 2023, faces bankruptcy within two weeks after so far failing to find a new investor for the airline.
Representatives for Air Belgium appeared before the Nivelles business tribunal on September 3, 2024, where the carrier was granted two more weeks to find a solution.
According to L’Echo, Air Belgium has been shielded from its creditors for a year as part of a Judicial Reorganization, a procedure which allows a company in financial troubles to restructure itself.
The same publication added that Air Belgium requires around €18 million ($19.6 million) in the short term but without that investment then bankruptcy is probably inevitable.
Chinese cargo airline Sichuan Airlines had been seen as a potential investor in Belgium Air but withdrew its interest.
According to L’Echo, the Belgium court gave the airline more time after a new investor appeared after the deadline.
In September 2023, Belgium Air announced it would halt its passenger flight operations to focus on the transport of goods and Aircraft, Crew, Maintenance, and Insurance (ACMI) services.
Established in 2016, Air Belgium initially planned to connect Belgium and Asia. Since 2022 however, the airline reoriented its network towards Africa, with destinations including South Africa and Mauritius.
Air Belgium faces bankruptcy within two weeks after no investors found: reports
AirlinesbyIan MolyneauxSeptember 8, 2024
The post Air Belgium faces bankruptcy within two weeks after no investors found: reports appeared first on AeroTime.
Air Belgium, which halted its passenger flight operations in 2023, faces bankruptcy within two weeks after so far failing…
The post Air Belgium faces bankruptcy within two weeks after no investors found: reports appeared first on AeroTime.
