UK-based Air One International Holdings and Dutch firm Peso Aviation Management have successfully secured court approval for their acquisition of Air Belgium’s cargo business. The Business Court of Walloon Brabant approved the move today, marking a pivotal step toward revitalizing the struggling airline’s cargo operations.
Next Steps in Acquisition
The acquisition process now hinges on obtaining the necessary operating and aviation licenses from Belgian aviation authorities. Once finalized, the new entity, Air One Belgium (AOB), plans to expand its fleet by incorporating two additional Boeing 747-400F freighters. This will bring the total fleet to six aircraft, comprising two B747-8F and two A330-200F freighters.
“This enhanced fleet of six freighters, supported by existing charter contracts, will ensure seamless operations and position the company to meet growing customer demand,” the partners stated.
Strategic Vision for the Future
The acquisition aims to solidify Air Belgium’s presence in Belgian and international cargo markets, preserve jobs, and create opportunities for future development. To facilitate the transition, AOB will acquire Air Belgium’s cargo business assets, contracts, and key personnel.
Ownership of AOB will be split between Peter Scholten, representing Peso Aviation Management with a 51% stake, and Air One with a 49% stake. Scholten, a seasoned air cargo industry professional with over 30 years of experience, emphasized the significance of the court’s decision.
“We acknowledge the trust the Nivelles business court has recognised in our offer,” Scholten remarked. “This positive ruling is not just an important win for Peso Aviation Management and Air One International Holdings but also a significant milestone for Air Belgium’s cargo division and its dedicated employees. Together, we now have an opportunity to preserve jobs, strengthen Belgium’s aviation landscape, and build a future-ready cargo operation that benefits customers, employees, and communities alike.”
Commitment to Growth and Stability
Peso Aviation and Air One have expressed a shared commitment to fostering growth, protecting employment, and delivering exceptional service in the global cargo industry.
This acquisition comes as Air Belgium restructures its operations after deciding last September to discontinue its passenger services and focus exclusively on cargo and ACMI (Aircraft, Crew, Maintenance, and Insurance) operations. The decision stemmed from economic challenges that led to significant debt accumulation, prompting the airline to seek financial stability through external investment.
Air One International Holdings reportedly has ties to the UK’s One Air, an operator of Boeing 747 freighters, further enhancing its expertise and resources in managing cargo operations.
The successful acquisition marks a turning point for Air Belgium’s cargo business, with promising prospects for growth and stability on the horizon.