Air Belgium in financial difficulties

On 10 November 2022, various Belgium news outlets have reported that Air Belgium is in a dire financial situation and urgently needs a capital investment of ten million euros before the end of this year. Without this money the airline is said to go under.

According to the various articles a shortage of pilots, high fuel prices and rising costs due to inflation are impacting Air Belgium so heavily that it's running out of cash. Earlier this year, the Chinese Hongyuan Group acquired a stake of 49% in the airline but can't invest more as that would raise it's shares over the 50% treshold, which is not allowed by European law. The other shares are owned by various Belgium investors, which have already expressed reluctance to invest more money.

Air Belgium is currently operating a fleet one Airbus A330-200, one A330-200P2F (to be operated for Hongyuan Group), four A330-200Fs (operated for CMA CGM), two A330-900s and two Boeing B747-8Fs (operated for Hongyuan Group).

Photo by Air Belgium.