VLM Airlines: Chinese investor reportedly in line to take over bankrupt carrier

The receivers of VLM airlines are in the final phases of the sale of the carrier, declared bankrupt in June, but there is no official word yet on the identity of its potential acquirer.

The Gazet van Antwerpen newspaper wrote on Friday that discussions should continue “in principle” with a single candidate. The Flemish public broadcaster VRT said, for its part, that a preliminary agreement had reportedly been concluded with a Chinese group. However, the receivers declined to confirm these reports when asked by the Belga news agency.

Various bidders had expressed interest in acquiring VLM. After tendering closed on Tuesday, there were reports that a single buyer had been shortlisted. The buyer was said to be a Chinese concern that was willing to take over the company’s planes – Fokkers – and retain about 60 of its staff for at least a year.

Receiver Philp Rauter declined to disclose the identity of the selected bidder. “We are in one of the last, and delicate, phases,” he said. “We hope to be able to conclude within two weeks”.

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