23 Jun Belgian VLM Airlines Files For Bankruptcy
VLM Airlines, once owned by the Air France-KLM Group, has filed for bankruptcy and has ceased operations.
On the 11th of April VLM reported that it had made operational progress, increasing the load factor from 37% to 44%. The airline filed for bankruptcy protection on the 13th of May, having accumulated €6 millions in debts. VLM filed for bankruptcy on the 22nd of June, showing that the operational progress have not been sufficient.
In 2008 VLM was acquired by Air France-KLM and was merged with CityJet. VLM Airlines was stripped off its successful flights in the process. German Intro Aviation subsequently bought CityJet and planned on demerge the two airlines. VLM, however, was bought out by its management and became an independent airline. VLMs previous management, however, had allowed problems and debts to mount to unovercomable levels it turns out now.
Currently the airline’s founder is in talks to explore the possiblities of a restart of the airline.
VLM Airlines network
VLM served a total of 6 destinations with a fleet of 10 Fokker 50s. Additionally, the airline operated flights on behalf of Flybe, CityJet and Vizion Air. The Belgian airline had 1 Fokker 50 in storage.