Air Belgium has announced that it will be cancelling all scheduled flights from 3 October.
Its passenger operations have become unprofitable, so from 3 October, Air Belgium will focus on freight services and wet leases. It ‘is intending to file for court-authorised restructuring’ and aims to negotiate new agreements with its creditors, reports TravelNews.
A combination of the impact of the pandemic, inflation, rising fuel prices, and the Ukrainian conflict has weakened the airline substantially. It said, ‘ All these factors have had a very severe impact on the profitability of the business and the cash flow.’
Air Belgium was conducting flights to Mauritius, and Cape Town and Johannesburg in South Africa but will no longer be offering such services.
Its 500 employees will be reassigned to other jobs within the company.
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