Air Belgium faces bankruptcy after failed rescue bid
March 10, 2025
Air Belgium’s administrator requested this step because Erwan had failed to live-up to the $844,000 agreement that the parties signed in December 2024. Erwan is a consortium formed by Peter Scholten of Peso Aviation Management (51%) of the Netherlands, and the UK’s Air One International Holdings (49%).
Erwan planned to to acquire Air Belgium’s cargo business assets, contracts, and essential personnel and form a new company, Air One Belgium, which was to be a new cargo carrier.
The Walloon Brabant Enterprise Court blocked this acquisition, revoking authorization for the transfer of Air Belgium’s activities to Air One.
With the cancellation of the sale, Air Belgium is again facing financial and legal difficulties. The court has set a final deadline of March 27 to find a new investor, while Air Belgium itself says that it has funds for three more weeks before bankruptcy becomes inevitable.
If this is not successful, the company faces complete liquidation.
