The Nivelles Commercial Court in Belgium has given the national airline a two-week extension to find a solution to its financial troubles.
According to RTBF, the French-speaking Belgian radio and television broadcaster, the airline has been under creditor protection for nearly a year as part of a judicial reorganization process.
However, it has yet to secure a new investor, which became critical after its sales plummeted by 40% due to a halt in passenger flights.
The airline is reportedly suffering from an annual loss of 22 million euros and, in the short term, needs at least 18 million euros to stay afloat.
The company appeared before the Nivelles Commercial Court last Tuesday, where the court extended the deadline following the emergence of a potential investor, whose identity has not been disclosed, who is expected to propose buying a stake in the struggling airline.
A potential investor has expressed interest but is contingent on support from the Walloon government, which is unlikely to materialise.
Air Belgium, a key shareholder of the Walloon Region, shifted its focus to charter services and freight operations after ending its passenger flights in October 2023.
Without new capital or additional protection, bankruptcy appears imminent, leaving employees and stakeholders uncertain about the airline’s future.
