Air Belgium has entered judicial reorganisation to manage its debts and will cease unprofitable passenger operations from October 3, focusing instead on cargo and ACMI activities.
The Nivelles Enterprise Court will review Air Belgium’s petition for reorganisation, enabling the airline to negotiate favourable debt terms and reassess its operational strategy after significant financial setbacks.
Passengers with flights after October 3 will face cancellations and refunds, while employees in the passenger segment will be reassigned as cargo operations continue amid the reorganisation efforts.
The airline’s financial difficulties stem from the pandemic, rising inflation, and increased competition, leading to a need for substantial investments that the company cannot afford to make for passenger services.
The airline has a fleet of two A330, one leased form Air Lease Corporation, and two 747s, one leased from Aircraft Finance Germany.
