Sunday, September 8, 2024 Air Belgium is rapidly approaching a pivotal moment, with just two weeks left to secure a financial solution that could determine its future. The airline has been under bankruptcy protection for nearly a year, but local reports indicate that time is running out. A recent court order has pressed the carrier to address its financial woes, and the most likely remedy seems to be the introduction of a new investor.
Initially, an airline appeared poised to invest and help stabilize Air Belgium’s finances. However, the deal fell through, leaving the airline in a precarious position. An unnamed investor has surfaced, providing a glimmer of hope and prompting the court to extend the deadline until September 19th.
While this potential investor brings optimism, there’s a catch—it reportedly requires the government to support the airline financially. Given the airline’s struggles over the past year, including millions already invested by the regional government, securing such backing seems uncertain. Air Belgium is in urgent need of at least EUR 18 million to address its immediate financial concerns, which have plagued the carrier not only this year but throughout its history.
The airline’s trajectory has been marked by poor route choices and low passenger loads, contributing to its inconsistent operations. Launched in 2018 with ambitious plans to serve several cities, Air Belgium’s operations never fully materialized. By 2019, the airline had ceased.