Air Belgium files for bankruptcy protection

On 18 September 2023, Air Belgium announced it has filed for a judicial reorganization by way of amicable agreement, basically a form of bankruptcy protection. At the same time, the airline announced it will end its unprofitable scheduled passenger-flights as of 3 October 2023 and will soley focus on providing ACMI- (Aircraft, Crew, Maintenance and Insurance) services and cargo-flights.

According to Air Belgium, the company is facing financial difficulties due to a combination of external matters like the pandemic, the war in Ukraine, rising costs of fuel and wages, and reduced spending power of customers.

Earlier this year, the airline attracted new investments with the Chinese Hongyuan Group acquiring 49% of the shares but since then no new capital have been raised.

Air Belgium was founded in 2016 and commenced operations two years later. It employs about 500 co-workers and the fleet is currently made-up of:

• OE-LAC A330-243 (1486), in the fleet since November 2022 and currently operational.
• OE-LAJ A330-243P2F (717), in the fleet since January 2023, operated for the Hongyuan Group but parked at Ostend since July 2023.
• OE-LAL A330-243P2F (832), in the fleet since August 2022 and operated for the Hongyuan Group and currently operational.
• OE-LCL A330-243 (1521), in the fleet since October 2022 and currently operational.
• OE-LFC B747-87UF (37562), in the fleet since May 2022, operated for the Hongyuan Group but at Xiamen since 15 September 2023.
• OE-LFD B747-87UF (37563), in the fleet since April 2022, operated for the Hongyuan Group and currently operational.
• OE-LFI B747-83QF (60118), in the fleet since January 2023, operated for the Hongyuan Group but stored at Marana (AZ) since August 2023.
• OO-ABF A330-941 (1844), in the fleet since December 2021 and parked at Brussels since 11 September 2023.
• OO-ABG A330-941 (1861), in the fleet since September 2021 and currently operated for British Airways.
• OO-SEA A330-243F (1594), in the fleet since March 2021 and operated for CMA CGM Air Cargo.