Hope fades for Sobelair

5 February 2004

BRUSSELS – The chances of finding a buyer for bankrupt Belgian charter airline Sobelair are looking increasingly slim, the Belgian civil aviation authorities have admitted.

On Wednesday the authorities cancelled Sobelair’s flying licence and ordered its takeoff and landing slots at Belgian airports to be made available to other airlines.

“We decided to withdraw the flying licence because there was no longer any hope of seeing the company rise from its ashes,” said a Belgian aviation official on Wednesday.

The regulators made their decision after Belgian businessman Ramy Baron announced he would not try to buy Sobelair. Baron had been considered the most serious potential bidder for the bankrupt carrier.

The official receivers currently administering Sobelair have said they will still consider selling the company if any serious bidders come forward within the next few days.

But they already seem resigned to the fact that they will probably have to break Sobelair up and sell off its assets.

A number of bidders have apparently already said they would be interested in buying the airline’s three aircraft.

Subject: Belgian news