Air Belgium not ready to give up yet
Almost a month after announcing the suspension of its partnership with Chinese UTour, Air Belgium board held a general meeting with shareholders on October 18, 2018, to discuss the future of the airline.
After a mere ten weeks of operations, Air Belgium announced on September 21, 2018, that it would interrupt its flights from Charleroi Airport (BSCA) to Hong Kong International Airport (HGK) during the coming winter period.
The meeting held on October 18, 2018, was to decide if the airline should continue operating or be dissolved. It seems that the first solution was chosen. The company will keep operating for legacy airlines. It already leased some of its aircraft to Air France and British Airlines during summer 2018. "The management presented the actions undertaken as part of its business plan. The shareholders took note and saw no reason to question the continuity of the company," said Air Belgium.
In the meantime, Niky Terzakis, CEO of Air Belgium, signed an agreement on October 17, 2018, with Henan Civil Aviation Development & Investment, the investment fund of the Henan province in China, which already holds a 25% in the Luxembourgish cargo airline Cargolux. It could hint at a route between Charleroi Airport (BSCA) and Zhengzhou Xinzheng International Airport (CGO), a project which was already being discussed prior to UTour’s defect.
After delays in acquiring an AOC, a late authorization from Russian authorities to fly through the Siberian airspace and a breach of contract from UTour regarding their terms on tariffs and load factor, Air Belgium had an unfortunate beginning. “Nothing to worry about”, said Terzakis to Belgian media L’Echo. The several ACMI contracts will have to keep the company airborne long enough to find another Chinese partner, and finally fly again under its own name.
The airline operates a fleet of four A340-300s acquired from Finnair between February 2017 and June 2018. After leasing one of its aircraft to Air France and British Airlines during summer 2018, the airline said it would continue operating for other legacy airlines.
Boeing CEOs timeline: will Calhoun bring change?
With David Calhoun taking the helm of the company, will Boeing get out of the 737 MAX crisis with its reputation intact...
Welcome to the family, A330: Airbus most successful wide-body
On this exact day, 26 years ago, the first-ever commercial Airbus A330 flight departed from Paris to Marseille. We look...
Bombardier to review A220 program stake after financial bump
After difficulties in other divisions and financial results that are below expectations, Bombardier indicates that it is...
Airbus makes 1st fully automatic vision-based take-off [Video]
Airbus performed the first fully automatic vision-based take-off using an Airbus Family test aircraft on January 16, 202...
2020: revolutionary year for the $700B worth global aviation
2019 brought a challenging period for aviation industry. Boeing MAX grounding, “flight shame” movement, airline bankrupt...