Air Belgium gets a €6.3 million capital increase from Belgian shareholders

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The Belgian shareholders of Air Belgium decided to increase the capital of the company by €6.3 million, newspapers La Libre Belgique and L’Echo wrote today.

The amount of €6.3 million is subscribed by Walloon regional investment fund Sogepa (€2.5 million), the Regional Investment Company of Wallonia SRIW, the Belgian Federal Holding and Investment Company SFPi, Sabena Aerospace and Air Belgium management. Hong Kong Aviation Investment Holding, with a 49.95% share, decided to not to participate in the capital increase of the Belgian long-haul airline.

Air Belgium, whose regular flights to the French Antilles have been halted, has been active since the beginning of the coronavirus crisis, operating many repatriation and cargo flights from around the world to Europe, as we related, and there is still cash flowing to the young Belgian airline.

“We have been contacted by the French, German and many other governments, and at least two of our four-engine aircraft are fully utilised,” said Niky Terzakis, Air Belgium CEO.

“There are different conditions around the world: in some countries, there are quarantines if pilots disembark, and in some others, they have to stay on board… Every flight requests complex organising efforts.

He adds that keeping aircraft cleaned (they are disinfected many times), and social distancing measures “are a demanding job”.

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