Air Belgium has been granted permission by the enterprise court of Walloon Brabant to undergo a judicial reorganisation procedure by amicable agreement, in order to address its financial difficulties and continue its Cargo and ACMI activities, for a 4-month period ending 22 January 2024.
The company reported losses of 45 million euros in 2022, for a total of 92 million euros since its inception. As a result, Air Belgium ceased its passenger activities and initiated the judicial reorganisation procedure.
CEO Niky Terzakis conveyed a positive message to employees, emphasising that their jobs were protected during this period.
Regarding cancelled flights after 3 October, Air Belgium revised the number of affected passengers down from 20,000 to 11,000, with a further decrease expected. The company expressed its commitment to handling customer reimbursements.
This post was published on 25 September 2023 22:59
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