By Maria Kalamatas – The Logistic News, March 14, 2025
The fate of Air Belgium’s cargo division hangs in the balance as Air One Belgium announces its decision to appeal a court ruling that has halted its proposed takeover of the financially troubled carrier’s cargo operations.
A Contested Ruling
The Nivelles enterprise court recently ruled that the takeover process had taken too long, effectively terminating Air One Belgium’s acquisition efforts. The court has now set a March 27 deadline for Air Belgium Cargo to secure an alternative investor or face liquidation.
However, Air One Belgium—an Anglo-Dutch company 51% owned by Peter Scholten of Peso Aviation Management and 49% owned by UK-based Air One—strongly disagrees with the ruling and has pledged to challenge it immediately.
Air One Belgium’s Defense
In a statement shared with Air Cargo News, Peter Scholten, majority shareholder and co-chief executive of Air One Belgium, expressed frustration with the court’s ruling:
“We are extremely disappointed by this decision. We have been actively progressing the acquisition, from setting up the company to reaching an agreement with Sichuan International Air Cargo Development Co., Ltd for leasing two Boeing 747 freighters.”
Scholten emphasized that significant progress had been made in securing regulatory approvals and finalizing aircraft contracts. However, the process had been delayed by external factors, including the Christmas, New Year, and Lunar New Year holidays.
Delays and Challenges
Air One Belgium asserts that it has been working diligently to complete the acquisition, citing:
- Successful negotiations in China with Sichuan International Air Cargo Development Co., Ltd
- Finalized aircraft contracts for Boeing 747 freighters
- Ongoing regulatory approval processes with Belgian authorities
However, despite these efforts, the owners of Airbus freighters previously operated by Air Belgium have reallocated their aircraft, compounding challenges for the acquisition.
A Fight for Jobs and Economic Growth
Scholten argues that the court’s decision jeopardizes not only Air Belgium Cargo but also employment and trade opportunities in Belgium:
“Until the outcome of [the] court ruling, we were still working towards completing the acquisition and creating a viable cargo business which would protect jobs, support trade to and from Belgium, and contribute to the Belgian economy.”
Despite this setback, Scholten insists that Air One Belgium remains fully committed to establishing a dedicated cargo airline that will bolster Belgium’s air freight sector and create long-term employment opportunities for industry professionals.
Air Belgium’s Troubled History
In September 2023, Air Belgium announced that it would cease its passenger operations to focus solely on cargo and ACMI (Aircraft, Crew, Maintenance, and Insurance) services. This decision was driven by mounting financial difficulties and debt accumulation.
During its restructuring, the airline sought new investors to stabilize its financial position. On December 12, 2024, the Business Court of Walloon Brabant approved Air One Belgium’s takeover proposal, marking a potential turning point for Air Belgium Cargo.
At its peak, Air Belgium operated a fleet of two Boeing 747-8F freighters and two Airbus A330-200F aircraft. However, uncertainty now surrounds its cargo operations as the company awaits a final resolution.
What’s Next?
With the March 27 deadline looming, Air One Belgium’s appeal will be critical in determining the future of Air Belgium Cargo. If unsuccessful, the company may have to seek a new investor or face liquidation.
As legal proceedings unfold, the Belgian air cargo industry, trade unions, and aviation stakeholders will be closely watching how this battle impacts Belgium’s position as a key player in European air freight logistics.
Stay updated with The Logistic News for breaking developments on the Air Belgium Cargo takeover and other major industry updates.
