747-8F. Photo: Air Belgium
UK cargo firm Air One International Holdings and Dutch company Peso Aviation Management have gained court approval for their proposed takeover of struggling Air Belgium’s cargo business.
The Business Court of Walloon Brabant today approved the acquisition, which the partners say is a significant first step to secure the future of Air Belgium’s cargo operations.
The next step in the acquisition process involves securing the required operating and aviation licences from the Belgian aviation authorities.
Once completed, Air One Belgium’s strategy will see the integration of two additional Boeing 747-400F aircraft into its fleet, which currently consists of two B747-8F and two A330-200F aircraft.
“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 said.
They added that once complete, the acquisition will “build a strong foundation for the airline’s future success in the Belgian and international cargo markets, preserve employment and produce new development opportunities.
To complete the purchase, a new company, Air One Belgium (AOB), is being created. This entity will be 51% by Peter Scholten of Peso and 49% owned by Air One.
Scholten is a Dutch citizen with over 30 years of air cargo industry experience and is well known in the cargo industry.
The company will acquire Air Belgium’s cargo business assets, contracts, and essential personnel.
“We acknowledge the trust the Nivelles business court has recognised in our offer,” said Scholten. “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, our employees,and communities alike. This marks the beginning of an exciting new chapter for everyone involved.”
Peso and Air One added that they are eager to work together to drive growth, protect jobs, and uphold a shared commitment to delivering exceptional value and service within the global cargo industry.
Last September, Air Belgium said it had decided to discontinue its own passenger business and focus exclusively on “cargo and ACMI for passenger and cargo flights” due to economic challenges that have resulted in the airline acquiring debt.
But while the airline underwent a judicial restructuring, it has been seeking investors to provide financial stability.
Air One Holdings International appears to have links to the UK’s One Air, which operates a fleet of Boeing 747 freighters.
UK and Dutch investors await approval to pick up Air Belgium’s freight operations
