Air Belgium has announced that it has received an offer from an interested investor to take over some or all of the airline’s activities. The company revealed the development on Wednesday, confirming that the offer will now undergo a thorough evaluation.
The Nivelles company court, which is overseeing the airline’s judicial reorganisation, is expected to rule on the proposal by December 5.
The takeover bid comes after several extensions to the deadline for potential investors to submit offers, with the final date set for last Friday. This follows the airline’s judicial reorganisation procedure (PRJ), which had been ongoing since mid-September.
As part of this process, Air Belgium sought to launch a procedure for the transfer of its activities, with a maximum timeframe of four months.
Bernard Vanham, the court-appointed practitioner overseeing Air Belgium’s liquidation, will now scrutinise the received bid.
Vanham is tasked with obtaining the necessary clarifications and preparing a report on the offer. This report will be submitted to the court, which will issue a final decision on the future of the airline in early December.
According to media reports, the bids currently on the table do not appear to propose a full takeover of all Air Belgium’s operations, including both passenger and freight transport.
This suggests that there may be a restructuring of the company, which could have implications for the airline’s workforce. Air Belgium, however, has refrained from making any official statements regarding the impact on employment since the process began.
The airline’s financial difficulties have been a long-standing issue. In September 2023, Air Belgium announced it would cease its passenger flight services to South Africa and Mauritius, citing “chronically unprofitable” routes.
This decision stranded around 11,000 passengers, who were left seeking refunds for their unused tickets. Since halting its passenger services, Air Belgium has focused on its ACMI (Aircraft, Crew, Maintenance, and Insurance) business, offering chartered flights for other airlines.
This has included both cargo and passenger flights, although reports indicate that the airline’s cargo operations are the only part of its business that remains active.
Air Belgium employs between 400 and 500 people, with many of its staff being involved in its cargo operations and chartered services.
The future of these employees remains uncertain as the court assesses the proposed offer, with concerns over potential job losses if the airline’s activities are scaled down.
As the airline navigates this critical phase, all eyes are now on the December 5 ruling, which will determine whether the investor’s bid is accepted and what direction the future of Air Belgium will take. Until then, the airline’s fate, and that of its employees, hangs in the balance.
