Acquirer Air Belgium wants to keep only half of staff

The company that wants to take over the financially troubled airline Air Belgium is known. It is a consortium of two companies: Dutch company PESO Aviation Management and British company Air One Holding International.

That consortium also wants to keep only 197 of Air Belgium’s 401 current employees. This was announced before the Nivelles enterprise court.

174 employees plus pilots

The trustee eventually received only one takeover bid for Air Belgium, although there was initial contact with 16 potential candidates. This was a consortium of two companies: Dutch company PESO Aviation Management and British company Air One Holding International, one of the largest providers – the fifth largest – of freighter capacity for complete charter services.

It was already known that they only wanted to take over Air Belgium’s cargo business. But now it also turns out that they are only taking over the 174 employees mainly working in the cargo branch, specifically clerical and operational staff.

There is no longer room for 204 others in the ‘short term’, such as the cabin crew of passenger flights. Air Belgium adds that 197 employees, including the pilots, most of whom are self-employed, and some other positions, will transfer to the new entity.

Fourth hub

The acquirers want to expand the cargo fleet and install an operational base at Brussels Airport. Air One Holdings, with noisy B747 cargo jumbos in its fleet, already has three subsidiaries: in the UK, Moldova, and Romania. Belgium should become the fourth. The company was founded in 2023 and is owned by Indian businessman Guneet Mirchandani.

One Air connected 28 global airports this year, carrying over 17 million kilos of cargo. It employs over 115 industry professionals, including pilots.

Dutch PESO Aviation Management, in turn, is the holding company of Peter Scholten, CCO at Air One Holdings and the former top manager of Martinair, a Dutch cargo and currently a subsidiary of Air France-KLM

€800,000 deal

The court will rule on 12 December. The FPS Mobility’s Directorate-General for Aviation must also give its approval. The procedure could take three to four months. During that time, Air Belgium will continue to operate cargo flights. If the court gives the green light, the procedure should be completed by the end of the first quarter of next year.

The takeover price has been set at 800,000 euros. The acquirers will not take over any aircraft (two Airbus A330-200Fs and two Boeing 747-Fs), as Air Belgium did not own them but leased them.

However, there is still a clause allowing the consortium to use two of the leased aircraft subject to Sichuan Airlines’ consent. Air Belgium’s lawyers and the delegated judge recommended that the court accept the offer.