PLANS by UK-based air One International Holdings and Dutch firm Peso Aviation Management to acquire Air Belgium's cargo division have collapsed after a court revoked the takeover process, reports London's Air Cargo News.
The companies had secured court approval in December to acquire the struggling airline's cargo operations.
However, media reports indicate that the Nivelles enterprise court overturned the decision, effectively halting the acquisition.
As part of the planned takeover, the newly formed Air One Belgium (AOB) was set to acquire Air Belgium's cargo assets, contracts, and key personnel.
The company was structured with a 51 per cent stake held by Peter Scholten of Peso Aviation and the remaining 49 per cent owned by Air One.
The next phase of the process involved obtaining the necessary aviation and operating licenses from Belgian regulators.
Air Belgium had announced in September 2023 that it would discontinue its passenger operations to focus solely on cargo and ACMI services, citing financial struggles that had led to mounting debt.
The airline has actively sought investors to secure its financial future while undergoing judicial restructuring.
Air One International Holdings is believed to have connections to the UK's One Air, which operates a fleet of Boeing 747 freighters.
SeaNews Turkey
The companies had secured court approval in December to acquire the struggling airline's cargo operations.
However, media reports indicate that the Nivelles enterprise court overturned the decision, effectively halting the acquisition.
As part of the planned takeover, the newly formed Air One Belgium (AOB) was set to acquire Air Belgium's cargo assets, contracts, and key personnel.
The company was structured with a 51 per cent stake held by Peter Scholten of Peso Aviation and the remaining 49 per cent owned by Air One.
The next phase of the process involved obtaining the necessary aviation and operating licenses from Belgian regulators.
Air Belgium had announced in September 2023 that it would discontinue its passenger operations to focus solely on cargo and ACMI services, citing financial struggles that had led to mounting debt.
The airline has actively sought investors to secure its financial future while undergoing judicial restructuring.
Air One International Holdings is believed to have connections to the UK's One Air, which operates a fleet of Boeing 747 freighters.
SeaNews Turkey
