Air Belgium raises an additional loan of $10 million

Buckling under financial burden and uncertainty over continuing of operations, Air Belgium has managed to raise an additional funding of $10 million to keep running. As per sources, these are new loans and the adjustment of existing loan agreements. In November, Air Belgium had entered into deep discussions with shareholders to secure fresh funding for the company’s future. The Walloon government has 35% stake in the airline while the logistics group in China, Hongyuan controls 49% of the company. This is the maximum foreign stake permitted for an airline to fly under a Belgian licence. The company has so far