UK-based Air One International Holdings and Dutch firm Peso Aviation Management have received court approval for their proposed acquisition of Air Belgium’s cargo division. The Business Court of Walloon Brabant granted the green light to the deal today, marking a crucial step toward securing the future of the struggling airline’s cargo operations.
The partners view this approval as an essential milestone in their efforts to stabilize and revitalize Air Belgium’s cargo business. The next phase of the acquisition involves obtaining the necessary operating and aviation licenses from Belgian aviation authorities.
Once finalized, the new entity, Air One Belgium (AOB), will integrate two Boeing 747-400F freighters into its fleet, which currently consists of two Boeing 747-8F and two Airbus A330-200F aircraft. This expanded fleet of six freighters, backed by existing charter contracts, will ensure smoother operations and help the company meet growing demand in the global cargo market.
“This enhanced fleet will not only streamline operations but also position the company to meet rising customer demands,” the partners stated in a joint announcement. They also emphasized that the acquisition would lay a strong foundation for Air One Belgium’s success in both the Belgian and international cargo markets, while preserving jobs and creating new growth opportunities.
AOB will be jointly owned by Peter Scholten of Peso Aviation Management (51%) and Air One International Holdings (49%). Scholten, a Dutch national with over 30 years of experience in the air cargo sector, is a well-known figure in the industry.
The acquisition includes Air Belgium’s cargo assets, contracts, and key personnel, who will be integrated into the new operation. Scholten expressed his gratitude for the court’s approval, calling it “an important win not just for Peso Aviation Management and Air One International Holdings, but for Air Belgium’s cargo division and its dedicated employees.”
He continued, “This ruling provides an opportunity to preserve jobs, strengthen Belgium’s aviation sector, and establish a cargo operation that is ready for the future—benefiting customers, employees, and local communities alike.”
Peso and Air One are committed to driving growth, protecting jobs, and delivering exceptional service within the global cargo industry.
This move comes after Air Belgium announced in September 2023 that it would discontinue its passenger services and shift its focus entirely to cargo and ACMI (Aircraft, Crew, Maintenance, and Insurance) services. The airline cited economic difficulties and growing debt as the primary reasons for restructuring, seeking investors to ensure its financial viability.
Air One Holdings International, which appears to have links to the UK’s One Air, operates a fleet of Boeing 747 freighters and will play a key role in the revitalization of the newly formed Air One Belgium cargo operation.
