Air Belgium SA, until now doing business as Air Belgium (KF, Brussels Charleroi), was placed into liquidation on April 30 by the Business Court of Walloon Brabant after all conditions were met for the official transfer of its cargo activities to French maritime logistics giant CMA CGM. The new owner will maintain the Air Belgium brand, but not the separate corporate entity.

In a statement, Air Belgium said this followed the granting of new Belgian operating licences by the Belgian Civil Aviation Authority and the same court's approval in March of the formal offer by CMA CGM Group to take over Air Belgium’s cargo operations.

CMA CGM, in a separate statement on April 30, confirmed the acquisition and said it would retain the Air Belgium brand as part of its air freight division, along with 124 of the 401 employees, including 72 pilots and 52 operational and support staff. The cargo flights would continue to operate from Belgium. Passenger operations will not continue.

Air Belgium's cargo operations include four freighters: two A330-200(P2F) converted freighters leased from Altavair and two B747-8Fs owned by Hongyuan Group, which was Air Belgium's 49% shareholder and primary cargo partner.

"While this marks the end of a seven-year chapter of airline operations, the new company will, thanks to this transfer, continue its activities exclusively focused on air freight. This transition ensures the long-term preservation of 124 direct jobs, including 72 pilot roles. The Air Belgium brand now becomes part of the air division of CMA CGM Group," the airline said.

"Since its creation, Air Belgium has had to face a series of challenges, including several years of global crises brought on by COVID-19, the war in Ukraine, and others. The company took every necessary measure and did all it could to ensure its survival, despite the many obstacles. I am extremely proud of our staff: for their loyalty, expertise, energy, and unwavering commitment," commented Air Belgium CEO Niky Terzakis.

He said the successful completion of the transfer was also made possible thanks to the cooperation of all stakeholders, including trade unions, the relevant Belgian authorities, suppliers, and clients.

"Of course, we would have preferred a different outcome for our passenger operations, which impacted some of our employees and customers. However, this transfer was the only viable option, after all other rescue paths were explored. The preservation of jobs linked to cargo operations and the development of freight activities from our country offer encouraging prospects for the future and represent good news for the Belgian aviation sector," he concluded.

The French conglomerate already owns a cargo airline, CMA CGM Air Cargo (2C, Paris CDG), which currently operates two B777-200Fs and one A330-200F. This fleet will soon be reinforced by an additional B777F, before expanding further, starting in 2027, with the arrival of eight Airbus A350Fs. CMA CGM also holds an 8.8% stake in Air France-KLM as of December 31, 2024.

CMA CGM Group said the acquisition of Air Belgium's cargo business enhances the French conglomerate's global and European air cargo presence, building on operations at Paris CDG. It follows a previous CMI partnership with Air Belgium, which lasted between 2021 and 2023 and saw the airline operate A330 freighters for CMA CGM before its own airline was certified.

The Walloon Brabant court on March 6 rejected a previous bid by Air One Belgium, a consortium of companies including Dutch company Peso Aviation Management and UK firm One Holding International (linked to One Air), following months of delays.