Sun International of Belgium is to sell its majority share in troubled charter airline Air Belgium. Talks are being held with undisclosed interests. Group chief executive Marc Vanmoerkerke says that a deal will be signed by June.
Sun International owns 65% of Air Belgium shares. The remaining 35% are owned by Sobelair, the charter subsidiary of Belgian national airline Sabena.
The ßag carrier says that it has no interest in buying the rest of Air Belgium. Sun International lost some BFr795 million ($23 million) in 1996, of which about BFr100 million was caused by Air Belgium's problems.
Air Belgium operates aircraft to holiday destinations in the Canary Islands, the Caribbean and the Mediterranean. Many of its problems were caused by buying a Boeing 757-200ER for its long-haul charter services. The aircraft is now leased out to Sunways of Sweden. Air Belgium operates one Boeing 737-300QC and one -400, which was sold and leased back from Boulroom in 1995.
Source: Flight International
