Air Belgium strongly denies any risk of bankruptcy by the end of 2022 and announces future new routes

Air Belgium strenuously denies the risk of having to end its activities if it does not raise 10 million euros by the end of 2022. The Belgian airline is even looking for much more than that sum, but for a major investment and expansion project, CEO Niky Terzakis said in an interview with Belgian press agency.

According to several media, Air Belgium is urgently looking for 10 million euros before the end of the year. “This rumor hurts us. For the past five years, the company has been said to be on the brink of bankruptcy any time it solicits funds. It’s boring and tiring‘ says an angry CEO.

Of course we can continue the activities in 2023. Our shareholders will not give up,” he added.

The rumors came days after the company announced it would be adjusting its flight schedules to the Caribbean this winter (phased suspension of flights to Punta Cana in the Dominican Republic, Curaçao and Bonaire in the Netherlands Antilles, Martinique and Guadeloupe in the US). French Antilles).

It’s a reaction to the market, which is what all companies do. We adapt our capacities to the market and demand“, explains Niky Terzakis.

And here comes the interesting news: as part of a strategy change, Air Belgium will present a new offer, new routes that the company will soon serve. The company does not want to be considered a low-cost airline. It targets new, larger markets (like the recent development in South Africa).

In order to make this big expansion plan possible, a lot of money is indeed needed, more than the 10 million euros mentioned. This expansion project for both passenger and cargo flights has been the subject of lengthy discussions with all private and public stakeholders, including the Belgian federal government and the Walloon public investment vehicles.

Yes, finances are tight, even very tight‘ the CEO admits, ‘but we do!

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