Air One Belgium to Appeal Decision on Air Belgium Cargo Takeover
Air One Belgium has announced its intention to appeal a court ruling that halted its proposed acquisition of the cargo operations of Air Belgium, which is facing financial difficulties.
In a statement to Air Cargo News, Peter Scholten, the majority shareholder and co-CEO of Air One Belgium, expressed deep disappointment with the Nivelles Enterprise Court’s decision, which blocked the transfer of Air Belgium Cargo.
The Anglo-Dutch company, with 51% ownership by Scholten’s Peso Aviation Management and 49% by UK-based Air One, strongly disagrees with the court’s ruling and is set to appeal the decision.
The court determined that the acquisition had taken too long and declared it unsuccessful, giving Air One Belgium a final deadline of March 27 to find another investor or face liquidation.
Despite the setback, Air One Belgium insists it has been making significant progress in the acquisition process. “We have been diligently advancing the deal, from setting up the company to securing an agreement with Sichuan International Air Cargo Development Co., Ltd for leasing two Boeing 747 freighters and planning future flight operations,” stated Scholten. “We’ve produced aircraft contracts and traveled to Chengdu for productive meetings.”
Additionally, the company has worked on preparing all necessary regulatory approvals and licensing, submitting them to Belgian authorities. However, the process has been delayed, partly due to the holiday periods, including Christmas, New Year, and Lunar New Year.
Scholten emphasized that business recovery efforts often face challenges, and noted that Air One Belgium had not been given the chance to update trade union representatives on its progress. He added that the owners of the Airbus freighters previously operated by Air Belgium had sought other uses for their aircraft in the meantime.
“Until the court’s decision, we were still focused on completing the acquisition and creating a sustainable cargo business that would protect jobs, support trade to and from Belgium, and contribute to the Belgian economy,” said Scholten.
Looking ahead, he reaffirmed the company’s commitment to launching an all-cargo airline to drive Belgium’s business and air cargo sector growth, offering long-term job opportunities within the aviation and cargo industries.
Air One Belgium will continue working with Belgian authorities to turn this vision into a reality.
In September 2023, Air Belgium announced it would discontinue its passenger services and focus solely on cargo and ACMI operations due to economic challenges and mounting debt. While undergoing judicial restructuring, the airline has been seeking investors for financial stability.
Earlier, on December 12, the Business Court of Walloon Brabant approved Air One Belgium’s takeover of Air Belgium’s cargo division. Last year, Air Belgium operated a fleet of two Boeing 747-8F and two Airbus A330-200F freighters.
