New investors seek to resurrect VLM Airlines
Moves are underway to revive Belgian regional and charter operator VLM Airlines, which declared bankruptcy in June 2016. A group of Dutch and Hong Kong-based Canadian investors has set up a corporate vehicle, SHS Aviation, in the Netherlands in an attempt to restore the airline. VLM was based at Antwerp International and operated around a dozen Fokker 50 turboprops. It was the subject of a management buyout from CityJet in Oct 2014, a few months after the latter was, itself, bought out from the Air France-KLM Group. SHS Aviation has set up 2 subsidiaries: SHS Antwerp Aviation, which is handling VLM, while SHS Aviation Slovenia has become the owner of Maribor Airport. Dutch investors hold 60% of the airline company. This is essential, as EU rules state that an EU-based airline must have a majority shareholding from among EU nationals. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-01-24/unaligned/new-investors-seek-to-resurrect-vlm-airlines
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New investors seek to resurrect VLM Airlines
Moves are underway to revive Belgian regional and charter operator VLM Airlines, which declared bankruptcy in June 2016. A group of Dutch and Hong Kong-based Canadian investors has set up a corporate vehicle, SHS Aviation, in the Netherlands in an attempt to restore the airline. VLM was based at Antwerp International and operated around a dozen Fokker 50 turboprops. It was the subject of a management buyout from CityJet in Oct 2014, a few months after the latter was, itself, bought out from the Air France-KLM Group. SHS Aviation has set up 2 subsidiaries: SHS Antwerp Aviation, which is handling VLM, while SHS Aviation Slovenia has become the owner of Maribor Airport. Dutch investors hold 60% of the airline company. This is essential, as EU rules state that an EU-based airline must have a majority shareholding from among EU nationals. <br/>
