DAT survival efforts continue

After a tumultuous few months, efforts to assure the survival of Delta Air Transport (DAT) and build a new Belgian national airline around it seem to be bearing fruit. A key part of the rescue effort fell into place when creditors of Sabena Interservice Centre (SIC), the in-house banking arm of defunct SABENA, agreed to accept equity in the new airline in lieu of repayment of its debt. Reduced lease rates for the airline’s Avro RJs and BAe 146s have also been negotiated, thanks in part to the not-so-subtle threat of flooding the market for the type. Talks are continuing with rival Brussels-based Virgin Express about the possibility of a merger of the two airlines, although DAT executive chairman Rob Kuipers said DAT had “stand-alone viability.” In late December, all of DAT’s shares were transferred to a new company, Airholding.

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