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 12 December.
“If this offer is approved, it would allow the company’s activity transfer process to begin,” it says, adding 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,” says Air Belgium.
Air Belgium’s heavy losses forced it to axe scheduled passenger operations last year and focus on charter and wet-lease services. But while it 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 adds that their plan involves “continuing Air Belgium’s existing operations while developing new complementary scheduled air-freight services”. Air Belgium has used Boeing 747-8 and A330-200 freighters for its cargo services.
