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Air Belgium halts unprofitable passenger flights to focus on cargo
来源：shippingazette 编辑：编辑部 发布：2023/09/25 16:32:16
AIR Belgium has 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.
The airline said in a press release on September 18 that its passenger business "in the face of increased competition is proving to be chronically unprofitable to date".
It noted that a number of economic and geo-political events had "weakened the company" in recent years, including the Covid pandemic, the war in Ukraine, high fuel prices, inflation and reduced consumer spending.
The airline said these factors combined caused financial challenges which, combined with current market challenges, are "forcing Air Belgium to change its strategy".
The airline stated: "The activities of cargo and ACMI (Aircraft, Crew, Maintenance and Insurance, or wet lease), the leasing of aircraft between airlines for passenger and cargo flights, constitute two profitable lines of business with growth prospects."
It added that it would discontinue the passenger business because "despite the many investments by Air Belgium in recent years and the strengthening of commercial initiatives, the Passenger business is still unprofitable.
After numerous studies, Air Belgium's Board of Directors reached the conclusion that turning a profit on this front would require substantial investments in addition to those already made in recent years, which has not been possible."
Passenger flights scheduled after October 3 have been cancelled, reports London's Air Cargo News.
The airline said in a press release on September 18 that its passenger business "in the face of increased competition is proving to be chronically unprofitable to date".
It noted that a number of economic and geo-political events had "weakened the company" in recent years, including the Covid pandemic, the war in Ukraine, high fuel prices, inflation and reduced consumer spending.
The airline said these factors combined caused financial challenges which, combined with current market challenges, are "forcing Air Belgium to change its strategy".
The airline stated: "The activities of cargo and ACMI (Aircraft, Crew, Maintenance and Insurance, or wet lease), the leasing of aircraft between airlines for passenger and cargo flights, constitute two profitable lines of business with growth prospects."
It added that it would discontinue the passenger business because "despite the many investments by Air Belgium in recent years and the strengthening of commercial initiatives, the Passenger business is still unprofitable.
After numerous studies, Air Belgium's Board of Directors reached the conclusion that turning a profit on this front would require substantial investments in addition to those already made in recent years, which has not been possible."
Passenger flights scheduled after October 3 have been cancelled, reports London's Air Cargo News.