Air Belgium Faces Financial Struggles After Halting Passenger Flights

Source:airbelgium.com

Air Belgium (KF) is facing a serious financial crisis after halting its passenger flights, leading to a 40% drop in revenues. The airline is currently grappling with an annual loss of €22 million and negative equity of €69 million. Industry experts suggest that the company would need an additional €18 million in financing to recover from this situation.

While an investor has shown interest, government support seems unlikely. The airline's main shareholder, the Walloon Region, has already made a significant investment, but hopes for further assistance are low. Contributing factors to the airline's losses include increased staff salaries and fuel costs, with total losses reaching €92 million as of June 2023.