Air (One) Belgium faces uncertain future as takeover deal falls through

The long-awaited takeover of Air Belgium has collapsed after the Nivelles enterprise court revoked the acquisition process Thursday evening. The airline, which had been in talks with an Anglo-Dutch consortium named Erwan, now has until March 27 to secure a new investor or face liquidation.

Initially, hopes were high that Erwan would successfully acquire the struggling airline and rebrand it as “Air One Belgium,” focusing primarily on cargo operations. However, weeks of delays and a failure to provide clear legal and financial guarantees led the court to dismiss the deal. This decision is a major blow to the airline’s 197 employees, who had expected to transition to the new entity, as well as to the wider aviation sector in Belgium.

With the March 27 deadline fast approaching, Air Belgium is in urgent need of a new investor. Whether a previously interested party steps forward or a new buyer emerges remains to be seen. If no credible solution is found, the company, which had already ceased passenger operations in late 2023, may be forced into full bankruptcy, marking the end of its turbulent history.