Belgian regional airline Delta Air Transport (DAT) moved closer to its goal of becoming the successor to the defunct Sabena Airlines late last month, after a commercial court in Brussels decided to postpone a bankruptcy ruling on DAT creditor Sabena Interservice Center (SIC). A former wholly owned subsidiary of Sabena, SIC must issue a recovery plan sufficient to warrant a definitive suspension of debt payments. The delay allowed a group of Belgian businessmen to continue negotiations to settle SIC’s creditor claims and acquire DAT. Although funded for operations at least until the end of this month, a business plan aimed at establishing it as a de facto replacement for the bankrupt flag carrier hinged on winning over Sabena creditors.
Their support was necessary to obtain continued funding beyond a three-month respite gained when an emergency loan for Sabena had been transferred to DAT. A decision on more funding was expected at press time.
