Take-over of Air Belgium definitively approved

As expected, the Nivelles business court has approved the take-over of financially troubled airline Air Belgium by a consortium of Dutch PESO Aviation Management and British Air Ones Holding International. It was the only final offer submitted on time.  Air Belgium’s lawyers and the delegated judge had advised the court last week to accept the bid.

The acquirers will take over only the cargo operations and 197 of the current 401 employees. In the short term, there is no place for the 204 others in the project. On the other hand, all the pilots, the majority working under self-employed status, make the transition to the new entity. Among the 197 employees, 147 are own staff. These are personnel active in cargo operations.

Over 200 redundancies

The take-over has been set at 800,000 euros. The acquirers are not taking over any aircraft because Air Belgium was not the owner.

“Together, we now have an opportunity to preserve jobs, strengthen Belgium’s aviation landscape, and build a future-ready cargo operation that benefits customers, our employees, and communities alike,” said Peter Scholten of PESO. “This marks the beginning of an exciting new chapter for everyone involved.”

The next step will be securing operating and aviation licenses from the Belgian authorities.