UK long-haul freight specialist Air One Holdings International and a Dutch firm, Peso Aviation Management, are looking to take over the cargo operations of struggling carrier Air Belgium.
The two investors have submitted an offer to a business court which, according to Air Belgium, is set to issue a decision on December 12.
“If this offer is approved, it would allow the company’s activity transfer process to begin,” Air Belgium said. The carrier added that it would take around three or four months and probably be completed at the end of the first quarter of 2025.
The transfer would focus exclusively on cargo operations, and retain almost 200 personnel – about half of those employed.
Pilots, as well as operational, ground and administrative staff would be retained, but cabin crew connected to Air Belgium’s passenger services would not.
“Discussions are ongoing to explore other options,” said Air Belgium.
Last September, Air Belgium said it had decided to discontinue its own passenger business and focus exclusively on “cargo and ACMI for passenger and cargo flights” due to economic challenges that have resulted in the airline acquiring debt.
But while the airline underwent a judicial restructuring, it has been seeking investors to provide financial stability.
Air One Holdings International appears to have links to the UK’s One Air, which operates a fleet of Boeing 747 freighters. Peso Aviation Management is based in Rotterdam
According to Air Belgium, the investors are expanding cargo fleets, developing maintenance activities, and looking to establish an operating base at Brussels.
It added that their plan involves “continuing Air Belgium’s existing operations while developing new complementary scheduled air-freight services”. Air Belgium has used 747-8F and Airbus A330-200Fs for its cargo services.
Air Belgium entered the all-cargo market in 2021.
It began operating four A330-200Fs on behalf of CMA CGM in March 2021. The airline subsequently started operating 747-8Fs.