Air Belgium board held and extraordinary general meeting this Thursday to discuss the current financial difficulties the airline is facing.
The airline is in deep financial hole due to its main Chinese client UTour, who failed to meet its commitment to provide sufficient number of Chinese passengers to fly between Charleroi and Hong Kong.
At the edge of bankruptcy, the board decided to continue the operation with the new agreement reached between HNCA and Air Belgium. HNCA China (Henan Civil Aviation Development and Investment Co) is an Aviation investment company in China.
The board decided to operate as the third party airline and will lease 3 of the four A340s it has, as there is a demand for long haul aircraft due to issues with Boeing 787 engines.
Now three of its A340 aircraft are on the ground making no money., while one is out operating for British Airways on London to Abu Dhabi route.