By the end of this year, Air Belgium needs at least 10 million euros for recapitalization

A difficult task for Air Belgium, the Belgian scheduled, charter and cargo airline headquartered in Mont-Saint-Guibert and based at Brussels Airport. According to the Belgian news TV channel and website, the airline is aiming to refinance at least 10 million euros by the end of this year to avoid bankruptcy news 24 (LN24).

Air Belgium currently employs 500 people, including 167 pilots. At the end of 2022, the airline is said to have accumulated a high loss: LN24 journalist Martin Buxant speaks of 40 million euros.

The question remains whether the main shareholders (49% Hongyuan Group, 35% shares owned by the Walloon government, 10% by the Belgian government and other private investors) will raise additional funds.

According to the LN24 journalist, the 16 million euros injected eight months ago are already “burned“. And Dominique Simonet, journalist at newspaper La Libre Belgique, believes the airline will not survive without public funding. However, he recalled that Air Belgium had a profit of more than 6 million euros in 2019, the last full year before the Covid pandemic.

At the end of September, Air Belgium proudly launched flights between Brussels Airport and South Africa. The airline recently carried the royal couple on a state visit to Lithuania.

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