Posted on: 03 September 2018 by Kimberley Young
SHS Antwerp Aviation (VLM) has gone into liquidation, ceasing all operations which entailed scheduled flights between Antwerp-London City and Antwerp-Zurich.
SHS Aviation B.V, the majority shareholder of the company, made the decision to dissolve the Belgian airline and to liquidate it at an extraordinary general assembly on 31 August.
The news means Europe has suffered its second airline insolvency within a week, with the Swiss regional airline SkyWork Airlines going bankrupt and ceasing all operations on 29 August.
The liquidation follows plans announced only last month that VLM would reduce its scheduled flight activities, focusing on business charter flights and the Antwerp-London City Airport and Antwerp-Zurich routes. The settlement takes effect immediately with Youri Steverlynck and Birgitta Van Itterbeek from Monard Law appointed as liquidators and responsible for the contact with potential buyers.
VLM was revived in 2017 by SHS Aviation following the bankruptcy of VLM Airlines N.V on 22 June 2016. SHS Antwerp Aviation N.V, which developed airline activities under the trading name VLM, is a subsidiary of investment company SHS Aviation B.V., which is owned by Dutch and Chinese investors.
The airline operated a fleet of Fokker 50 turboprops and offered scheduled flights from Antwerp to Aberdeen, Birmingham, Cologne-Bonn, London City Airport, Munich, Rostock, Zurich and Maribor. VLM Airlines was responsible for 45% of the capacity offered from Antwerp Flanders International Airport.
VLM is made up of three entities including VLM Airlines (Slovenia) and VLM Airlines (Antwerp). Earlier this year, VLM Airlines (Brussels) was said by Dutch media to have been acquired by a Dutch investment group.