Air One takeover of Air Belgium terminated

Air One Belgium, a new subsidiary of United Kingdom-based Air One International Holdings, is looking at other ways of setting up a freighter airline in Belgium after the Walloon Brabant Enterprise Court terminated its takeover of Air Belgium’s cargo business today. Peter Scholten, major shareholder and co-chief executive of Air One Belgium, told Cargo Facts in a statement that the company is “extremely disappointed” and “intends to immediately appeal” the decision of the court. Air One failed to meet the following two conditions for the acquisition as laid out by the court in December 2024: Approval from Belgium’s civil aviation authority; and Guaranteed continuation of commercial contracts with main customer Sichuan International Air Cargo Development Co. [caption id="attachment_57149200" align="aligncenter" width="1258"] Air Belgium had flown its two 747-8Fs and two A330-200Fs for Hongyuan Group. (Courtesy/Hongyuan Group)[/caption] The door is now open for other potential buyers to come forward until March 27, according to local reports. Air Belgium freighters Air Belgium’s freighter fleet includes two 2013-vintage, ex-Saudia 747-8Fs (37562 and 37563) and two ex-Etihad A330-200P2Fs (717 and 832). It had operated them for China-based Hongyuan Group, which owns just under 50% of Air Belgium and set up Sichuan International Air Cargo Development Co. as a joint venture with the state-owned Sichuan Logistics Industry Co. While units 37563 and 832 are in service, units 37562 and 717 have not flown since Feb. 27 and are in Brussels (BRU) and Woensdrecht Air Base, Netherlands (WOE), respectively. Takeover delays The court on Dec.12 had initially approved Air One’s proposed acquisition of Air Belgium’s cargo business as part of Air Belgium’s judicial and financial reorganization. After that approval, Air One worked diligently to complete the acquisition, Scholten said, including setting up Air One Belgium, submitting licensing and other documents for regulatory approval, traveling to China and reaching an agreement with Sichuan International Air Cargo Development on the lease and operation of the two 747-8Fs. The Belgian ACV Puls union requested an extraordinary meeting on March 5 over concerns about the delay in the takeover process, according to the local reports. Some of the takeover activities took longer than anticipated, partly because of the Christmas, New Year and Chinese New Year holiday periods, Scholten said. Air One was not given the opportunity to talk directly to trade union representatives to provide updates on the progress, despite Air One’s request to do so, he said. Meanwhile, it became clear that the owner of the A330-200P2Fs would not be making those aircraft available for Air One’s future operations, Scholten said, adding that Air Belgium had postponed maintenance of those freighters in the past year or two. Air One Aviation Scholten, who is also chief commercial officer of Air One Aviation, a subsidiary of Air One International Holdings, previously had tried to set up a Netherlands-based airline called Aerotranscargo NL in 2021. Air One Aviation manages and acts as global sales agent for U.K.-based One Air , Moldova-based Aerotranscargo and Romania-based Rom Cargo Airlines . The three carriers have a combined fleet of eleven 747-400 freighters and One Air will soon add its first 777F . Looking forward, Air One Belgium remains fully committed to establishing an all-cargo airline that supports the growth of Belgium’s business and air cargo community, and will continue to work with the Belgian authorities, Scholten said. Register now for Cargo Facts' essential regional events for industry stakeholders: Cargo Facts Asia 2025 on March 24-26 at the W Shanghai in China; and Cargo Facts EMEA 2025 on May 6-8 at the Shangri-La Bosphorus in Turkey.

Air One takeover of Air Belgium terminated

Air One to appeal court decision

DHL revenue up 3% in 2024

Skyway founder Peralta joins Cargo Facts Asia 2025

Related Posts

Lufthansa Cargo Q3 operating profit triples to $182 million

LATAM Airlines Q3 cargo revenue jumps almost 20%

Air Canada expects to deliver strongest cargo revenue on record this month

Skyway founder Peralta joins Cargo Facts Asia 2025

Cargo Facts Free Newsletters

Cargo Facts Connect Podcast

Follow Us

Welcome Back!

Retrieve your password