The judicial reorganisation process (PRJ according to its French acronym) for Air Belgium, which has been ongoing for nearly a year, will conclude on September 19, the airline announced on Monday.
The PRJ began on September 25 last year, when Air Belgium ceased its unprofitable passenger flights to South Africa and Mauritius from October 3. The Nivelles business court granted the airline several extensions to present its future plan negotiated with creditors and to reorganise its operations.
In May, the court extended the deadline to August 20 to allow further negotiations with remaining creditors and to finalise the company’s restructuring. This included replacing A330-900 and A330-200 aircraft with more economical models, implementing a new business model (ACMI and freight), reducing overhead costs, partially reallocating staff to new activities, and renegotiating commercial contracts.
Air Belgium will utilise the maximum 12-month legal duration for a PRJ. The airline clarified that this is not an extension but the legal deadline for the reorganisation procedure.
Additionally, discussions are ongoing with a potential new investor, but details remain confidential as negotiations continue.
