Air Belgium, based in Charleroi, Belgium, has canceled all passenger flights with effect from October 3, 2023. In the future, the company plans to concentrate on providing cargo and ACMI activities. Furthermore, on September 18, 2023, an application for creditor protection was filed with the relevant court. Air Belgium has been in trouble for some time. The company has repeatedly denied local media reports that spoke of a very strained financial situation. Most recently, it was even said that a new investor had been found who would give the carrier a helping hand. Now Air Belgium wants to reposition itself as part of creditor protection proceedings. In order to be able to reduce costs as quickly as possible, it will stop all passenger flights on its own account as of October 3, 2023. Among the reasons that led to the court case, the company writes that it has been significantly weakened in recent years, for example due to the corona pandemic and the sharp rise in fuel prices after the start of the war in Ukraine. It is also clear that the galloping inflation has literally devalued purchasing power in the domestic market. This would have a massive negative impact on demand. All in all, the management had no other choice and had to redesign the entire business model in order to save Air Belgium. All available options were examined, but the conclusion was that the only option was to stop scheduled flights and concentrate on freight and wet leasing services. The airline will no longer operate passenger flights on its own account from October 3, 2023.