Air Belgium is rapidly approaching a make-or-break moment as it faces a two-week deadline to secure a financial solution that could determine its future. The airline has been under bankruptcy protection for nearly a year, and a recent court order has intensified the pressure for a resolution. While time is running out, a glimmer of hope has emerged in the form of a potential new investor.
Initially, another airline was poised to invest and stabilize Air Belgium’s finances, but the deal ultimately fell through, leaving the airline in a precarious position. This new, unnamed investor has prompted the court to extend the deadline to September 19th, but their investment is contingent on government support. This poses a challenge, as the regional government has already invested millions in the airline, and its willingness to provide further assistance is uncertain.
Air Belgium is in dire need of at least €18 million to address its immediate financial concerns, a problem that has plagued the airline since its inception. Its history is marked by poor route choices, low passenger loads, and inconsistent operations. Launched in 2018 with ambitious plans to serve numerous cities, Air Belgium’s operations never fully materialized. By 2019, the airline had ceased its scheduled passenger flights, with hopes of resuming later that year and expanding to destinations in the Americas. However, it repeatedly launched and then suspended routes, including flights to various destinations. In September 2023, Air Belgium suspended all scheduled passenger services once again, shifting its focus to ACMI and cargo operations.
Adding to its challenges, Air Belgium has also faced technical difficulties, including engine issues on its Airbus A330-900 aircraft, which the airline now plans to phase out.
With the deadline looming, Air Belgium’s survival hangs in the balance. The next two weeks will be crucial in determining whether the airline can overcome its financial troubles and continue operating. The outcome will depend on the potential investor’s commitment and the government’s willingness to provide vital financial support.
