VLM Airlines Goes Into Liquidation

VLM Airlines Goes Into Liquidation

Belgian carrier VLM’s majority shareholder SHS Antwerp Aviation has decided to liquidate the airline with immediate effect.

Last month the Antwerp-based airline said it had decided to “temporarily reduce its scheduled flights activities”, as it moved to an all-charter operation to cut losses on its operations.

Scheduled services from Antwerp to Aberdeen, Birmingham, Cologne-Bonn, Maribor, Munich and Rostock were scheduled to stop “in the coming weeks”, and new routes from Antwerp and Ostend-Bruges to Manchester were postponed.

The move came too late as an extraordinary general assembly decided to dissolve the airline and liquidate it. The settlement takes effect immediately, the airline said.

Youri Steverlynck and Birgitta Van Itterbeek were appointed at the meeting as liquidators. They are responsible for contacts with potential buyers.

VLM Airlines filed for bankruptcy protection in 2016, hoping to continue operations and emerge as a profitable carrier. Dutch company SHS Aviation reached agreement with VLM’s receivers to take over the regional airline and had been trying to rebuild its operations.

(Airwise)

September 9th, 2018
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