“For five years it has been said that the company is on the verge of bankruptcy every time we seek funding,” says Terzakis. “It is annoying and exhausting. Obviously we will continue our activities in 2023, our shareholders will not give up.”
The messages come after the company itself announced Monday that it is significantly cutting its supply. Almost all flights to the Antilles will be canceled. “This is a response to the market, as all companies do,” explains Terzakis. “We adapt our capacity to the market and to the demand”.
The change in offering also fits a modified strategy for new destinations that Air Belgium will serve soon, according to the CEO. “Air Belgium aims at large and important markets, we are not a low cost airline”. Terzakis does not elaborate on these plans, although he says that the new destinations will not collide with those of Brussels Airlines.
Terzakis claims to have been in talks for months with all shareholders, private and public, for months. However, public shareholders will not be challenged to finance the expansion plans. “It is true that a lot of money is needed to reclassify the airline, both in terms of passengers and freight, and more than the 10 million involved,” he still rings. “Yes, the financial situation is tense, even very tense, but we will make it.”
