Air Belgium, an operator that emerged in the late 2010s, reported a loss of €44.6 million in 2022.
Ultimately the company has been struggling significantly with heavy losses and financial difficulties. It has seen a shift in focus of business models to try to cut costs but to no avail.
Fuel and salaries for the airline in 2022 nearly doubled, and despite its best efforts to find ways to earn more, it couldn’t break even.
While loans were provided through the years to the company, it hasn’t been enough and now it needs a new investor to inject funding into it to ensure long-term survival.
If this was to take place and the 14.4 million euros were injected into the airline, the ambition to become profitable would be possible before the end of the year. However, the investment isn’t guaranteed.
Cargo and passenger transport operations remain the most significant focal point for Air Belgium, however, its initial plans have essentially been put on hold for some time during to its poor financial position.
Per Cirium fleet data, Air Belgium currently has close to 10 aircraft in service. This is spread across the 747 and Airbus A330 series with freighter aircraft present. The A330-900, part of the A330neo series, is one of the newest additions to the fleet in a bid to modernise operations. Meanwhile, 747-8fs operating for Hongyuan Group are also present, alongside further A330 freighters and A330-200s.
