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Belgium’s VLM Airlines Files for Bankruptcy

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Belgium’s VLM Airlines Files for Bankruptcy

Belgium’s VLM Airlines Files for Bankruptcy
June 22
11:20 2016

MIAMI — Belgian Regional carrier VLM Airlines has suspended operations following a formal filing for bankruptcy with an Antwerp commercial court on Wednesday, June 22.

The decision was made hours after Austrian airline People’s Viennaline cancelled VLM’s wet-lease contract after claiming a poor quality in the services provided.

“We are sorry to have to inform you that VLM Airlines NV has filed for bankruptcy on Wednesday 22nd June 2016. All flights are cancelled with immediate effect,” the airline said in a statement.

Last May, the airline filed a formal application asking for creditor protection during six months to avoid bankruptcy. Nevertheless, the company alleged that the time granted was not enough to reorganize the carrier, hire new crews and to raise additional financial resources. Also, VLM CEO Hamish Davidson said the two-week waiting period between the application for creditor protection and its acceptance had also seen a number of passengers cancelling their bookings for the carrier’s scheduled operations

“We realized that all restructuring measures we had implemented from January onward had been come too late for a sustainable restructuring,” CEO Hamish Davidson said in the statement.

The Antwerp-based carrier had an all-Fokker 50 fleet of 11 aircraft, and served scheduled and charter flights between Belgium, Switzerland, Germany, the United Kingdom, the Netherlands, Italy, and Norway.

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