Air One, Peso Aviation to Revive Air Belgium Cargo in €800,000 Deal
British company Air One International Holdings (AOIH) and Dutch firm Peso Aviation Management have secured court approval in Belgium to acquire the cargo division of Air Belgium (KF, Brussels Charleroi) for EUR800,000 (USD841,000). The transaction, announced in a joint statement, aims to preserve jobs and rejuvenate the Belgian cargo aviation sector.
The newly established entity, Air One Belgium, will oversee the cargo operations. Peso Aviation Management’s Peter Scholten, an industry veteran, will hold a 51% stake, while AOIH will own the remaining 49%. Scholten also serves as managing director of PAS Aviation Logistics and chief commercial officer at Air One Aviation, another AOIH-affiliated firm. AOIH is led by Guneet Mirchandani, a UK-based Indian entrepreneur and minority shareholder in UK cargo operator One Air.
The deal excludes Air Belgium’s leased fleet, comprising two A330-200(P2F) aircraft owned by Altavair and two B747-8Fs under Hongyuan Group. Air Belgium previously operated an A330-200 and two A330-900Ns, but these aircraft are now allocated to other carriers.
Looking ahead, the buyers plan to add two additional B747 freighters to Air Belgium’s fleet, though details on the aircraft’s origins remain undisclosed. AOIH already operates a fleet of B747 freighters through affiliates One Air, ROMCargo, and Aerotranscargo, which collectively manage various B747 models.
The acquisition is part of AOIH’s broader strategy to expand its cargo operations, including opening a new base in Brussels. However, with the deal focusing exclusively on the cargo division, Air Belgium is expected to implement job cuts in other areas.
This acquisition marks a pivotal step for Air Belgium’s cargo operations, as the new management aims to stabilize the business and enhance its market position in the competitive European air freight sector.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com