Extended judicial reorganisation procedure agreed for Air Belgium

Air Belgium has received an extended deadline for its judicial reorganisation procedure (JRP) as it seeks to finalise agreements with creditors. As reported in Belgian publication L-Post, the Walloon Brabant Company Court has set a new date of May 13; superseding a previous conclusion date of January 22, 2024. The European airline first filed for judicial reorganisation in September 2023 and stopped its scheduled passenger services on October 3, 2023. In a statement dated September 2023, it cited a variety of external events (such as Covid, international conflict and inflation) as having had ‘a very severe impact on the profitability