VLM Airlines reaches sale and lease back agreement

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VLM Airlines, based at Antwerp Airport, concluded a sale and lease back agreement with Miami (USA) based Jetstream Aviation.

Steve Blair, CEO of VLM Airlines, said: “2015 was a transition year. We are now approaching the end of a reorganization and a refinancing which puts the airline on a solid footing for moving towards profitability in 2016. There has been a lot of hard decisions that had to be made in the last year. The agreement with Jetstream represents another significant commitment and belief in the future of VLM Airlines.”

VLM Airlines and Jetstream have been negotiating the agreement since April 2015 and are pleased that the long planned agreement has now been concluded.

The terms of the agreement are subject to confidentiality between VLM Airlines and Jetstream but it can be confirmed that the funding will allow VLM Airlines to start a number of new routes and continue to develop existing and potential commercial partnerships.

VLM Airlines – which began in 1993 with the first connection between Antwerp and London City Airport – has over the years become one of the most successful airlines in the field of charter flights, based on the Antwerp International Airport. With its fleet of Fokker 50 aircraft meets VLM Airlines to the needs in the European charter market, with ACMI / Wet lease contracts and charter services are offered including in the field of tour operators, travel agents, music & film, special events, incentives, sports teams, government and defense, NGOs and emergency assistance. This year VLM Airlines started again with regional scheduled flights.

Press Release, Antwerp, 22 December 2015

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