Air Belgium: a rebirth?

[RWDM]

rumours:
2 A340 will be delivered in November and 2 a340 in 03/2018 !

[Stij]

Hi RWDM! Welcome!

Thanks for the info!

[luchtzak]

rumours:
2 A340 will be delivered in November and 2 a340 in 03/2018 !

Next month?! More news?

[Bralo20]

rumours:
2 A340 will be delivered in November and 2 a340 in 03/2018 !

Seems they definitely have cash to burn, receiving planes without an AOC, paying for leasing, paying for parking, paying for insurance, maybe even paying for (preventive) maintenance during the time they can't operate, paying for staff, etc... Burn baby burn...

Doesn't seem to be the smartest thing to do but hey, who knows, they might have an unlimited cash mountain or credit line, time will tell I guess...

[JOVAN]

Direct flight to saint helena helena then !
Disruptive for sure )

WATERLOO - ST. HELENA (via ELBA )

[Airbus330lover]

and no etops problems...... for Mexico or BOS

No ETOPS problems at all on an A340!

Just wat I said

[Yuqu12]

rumours:
2 A340 will be delivered in November and 2 a340 in 03/2018 !

Any idea as when (rather beginning or end of the month)? A date would absolutely wonderful for the planespotters at Brussels.

[Homo Aeroportus]

and no etops problems...... for Mexico or BOS

No ETOPS problems at all on an A340!

Where do we stand on this on our side of the pond?
Do we stick to "T" for Twin only?

The FAA has revised their requirement to encompass aircraft with +2 engines.
Boeing has the 748 certified ETOPS 330.
See : http://boeing.mediaroom.com/2015-03-18- ... nute-ETOPS

H.A.

[JOVAN]

Walloon Region and Federal Investment C° ²take 25% shares in Air Belgium.

(title in de Tijd 28.10.17)

Things seem to move in good direction.

First plane A340, to arrive this November.

By November 2018, there will be 280 people working for AB.

[nordikcam]

Walloon Region and Federal Investment C° ²take 25% shares in Air Belgium.

(title in de Tijd 28.10.17)

Things seem to move in good direction.

First plane A340, to arrive this November.

By November 2018, there will be 280 people working for AB.

Hummm first good news !

[luchtzak]

Walloon Region and Federal Investment C° ²take 25% shares in Air Belgium.

(title in de Tijd 28.10.17)

Things seem to move in good direction.

First plane A340, to arrive this November.

By November 2018, there will be 280 people working for AB.

Hummm first good news !

Thanks for the scoop! https://www.aviation24.be/airlines/air-b ... ent-share/

[Passenger]

During their first financial year (18/02/2016-31/12/2016), they made a loss of 2,185,000 Euro.

(source: NBB)

[Bralo20]

During their first financial year (18/02/2016-31/12/2016), they made a loss of 2,185,000 Euro.

(source: NBB)

So a bit less than half of their capital (5.000.000 EUR capital) was gone in 10 months time... If the same rate of bleeding money continued in 2017 they should be virtually bankrupt by now. But now there is SRIW en SFPI which both invested 12,5% so they have 25% combined, based on the start capital of 5 million EUR, Air Belgium just has gotten another 1,25 million EUR which should be sufficient to get them into early 2018. However without an AOC and without additional fresh capital early next year it seems they'll be bankrupt before IATA S18 starts... The bleeding of money will even increase when their A343 will be delivered regardless it they are flying or not, while they can have a pay by the hour contract they will need to cover other costs during the waiting period.

Doesn't look to good though, wonder why the SRIW and SFPI would even gamble like that, even if a miracle happens and they receive an AOC before the end of this year there's still not much time left to bring in revenue, let alone finding additional investors... Who would want to gamble and invest in an airline that currently still doesn't have an AOC, who doesn't have any interline/codeshare/alliance agreements, who doesn't sold a single ticket, who will fly once a week to a destination that will be flown by CX 4x weekly, etc... I just don't see any success in this story, I hope I'll be wrong but someway I doubt it...

[Passenger]

Indeed - if you establish your airline company in February 2016, you expect to be operational a few months later.

Can someone with a subscription on De Tijd post some content about the development? There a few amounts circulating here about their capital, but the three published records (State Gazette, annual account and Belgium's Central Databank) all three show it's 200,000 Euro. Their annual account (02/2016-12-2016) also shows an external financial debt of 3,500,000 Euro (if there's an accountant here: it's code 439). As debt, not as capital.

[JOVAN]

" 20 million EUR startkapitaal".
as stated in de Tijd.

"Het bedrijf gaat er prat op" ; " the company is proud about it"

[JOVAN]

I am a believer of AB.
And a fan already.

The fans and non-fans can also check the website of www.lecho.be

link is https://www.lecho.be/r/t/l/id/9948143

maybe a younger reader can help checking the link

Go AB Go !!

[Passenger]

" 20 million EUR startkapitaal" as stated in de Tijd.

"Het bedrijf gaat er prat op" ; " the company is proud about it"

It's somewhere in between, their two companies together:

Air Belgium sa/nv has a capital of 200,000 Euro:
http://kbopub.economie.fgov.be/kbopub/t ... =648801623
Aviation Investment Holding sa/nv (Avia Invest sa/nv) has a capital of 5,000,000 Euro:
http://kbopub.economie.fgov.be/kbopub/t ... =655703469

(I don't add Terzakis' own sprl/bvba "3T Management & Associates" here).

[Bralo20]

" 20 million EUR startkapitaal".
as stated in de Tijd.

"Het bedrijf gaat er prat op" ; " the company is proud about it"

De Tijd has only part of the info of the 'l Echo site. 20 million EUR is the capital they are trying to raise, not what they currently have. It's virtually their "dream" to have 20 million but they don't have it (yet).

I've read it was 5 million but apparently it's only 200.000 EUR and they have a 3.5 million credit line with a bank. Aviation Investment Holding (which I assume is the parent of Air Belgium) has 5 million EUR in capital, since they didn't publish the records yet we don't know how much they lost last year nor if they got an additional credit line.

Anyway, fact is that they are burning capital, at a rate of 230.000 EUR a month (based on the 2016 numbers), if this continued they'll have an additional loss of 2.76 million when the year ends. It could be more, it could be less based on what they did this year. So even if you add the 5 million of AIH, the 200.000 of AB and the 3.5 million of the AB credit line they'll still burned about 4,9 million of their 8,7 million (from which 3,5 million is a credit line and not actual capital).

Regardless how you look at it, their finances aren't good even when they got another million (approx.) from the Wallonian & Federal government.

[nordikcam]

The article also says that AB could fly from CRL since there is a Walloon investment ... and that CX will fly to HKG from BRU. On n'est pas sorti de l'auberge as we said in french ( capital/finances and airport ) but we are used to wait...

[Bralo20]

Oh, and according to 'l Echo one of the requirements of the Wallonian government was that AB has to operate from an airport in Wallonia and Air Belgium has to find private European investors (necessary since the airline has to be 51% European owned) before they join in the capital.

Also according to 'l Echo the other destination in China is Macao while other destinations remain secret.