VLM (1992) (Antwerp) will close its loss-making Dutch subsidiary VLM Airlines BV as part of a cost-cutting drive. In a statement, the Belgian carrier said it hoped to complete the shut down by year-end with some 75 jobs to be affected. Negotiations with unions in Belgium concerning cuts at the airline's Antwerp headquarters are also ongoing.
Should an agreement be reached, COO Steve Blair is optimistic VLM can achieve profitability by 2016.
VLM was acquired by management from previous owner INTRO Aviationn in October of last year following which it was spun off from previous parent, CityJet (WX, Dublin International). Using a fleet of eleven Fokker 50s, VLM currently operates ACMI/charter flights as well as scheduled passenger services connecting Antwerp, Birmingham, GB, Geneva, Hamburg Helmut Schmidt, Southampton, Rotterdam, London Luton, and Waterford.
