Air transport
No bankruptcy in the past twelve months.
19 companies file their annual accounts outside the standard format, for example in a sector format. Their figures and staff are missing from the employment, the medians and the largest employers.
Show the 19 companies
- Air China Limited
- AIR EUROPA LINEAS AEREAS
- ALL NIPPON AIRWAYS CO. LTD.
- Austrian Airlines AG
- Deutsche Lufthansa Aktiengesellchaft
- EMIRATES
- FINNAIR OYJ
- HAINAN AIRLINES HOLDING COMPANY LIMITED
- HURKUS HAVA YOLU TASIMACILIK VE TICARET ANONIM SIRKETI
- ITALIA TRASPORTO AEREO S.p.A
- Juneyao Airlines Co., Ltd
- Koninklijke Luchtvaart Maatschappij
- LUFTHANSA CARGO
- QATAR AIRWAYS GROUP Q.C.S.C
- SAF HELICOPTERES
- Société Air France SA
- SWISS INTERNATIONAL AIR LINES AG-SA-LTD
- Türk Hava Yollari AO, Ligne Aérienne Turque
- UNITED AIRLINES INC
Activities
NACE 511 · 1 activity| Activity | Registrations | Starters, 12 months | Bankruptcies, 12 months | FTE |
|---|---|---|---|---|
| Passenger air transport51100 | 449 | 35 | 0 | 4,761 |
Filed accounts
NACE 511 · financial year 2025 · 184 filed annual accounts| Per financial year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Median solvency | 39.8% | 34.0% | 33.5% | 36.9% | 39.6% | 37.1% |
| Median net result | €2,505 | €2,640 | €3,497 | €5,255 | €8,374 | €5,677 |
Hold your customer's or competitor's figures against them in the Sector benchmark
Bankruptcies
Recent bankruptcies
| Date | Company |
|---|---|
| 07-05-2025 | Air Belgium
BE 0648.801.623 |
| 26-03-2024 | Nabavieh, Kiarash
BE 0758.827.931 · sole trader · Antwerp |
| 04-09-2023 | BLUETAIL FLIGHT SCHOOL
BE 0556.797.222 |
Spread across the country
by region and province · 298 of 449 enterprises with a registered office on file · a sole trader has no published seat- Flanders
- Wallonia
- Brussels
- Abroad
The balance sheets of division 51 on the map, by municipality and down to the address
Largest employers
NACE 511 as first main activity · staff from the latest accounts- 1 BRUSSELS AIRLINESMachelen (Brab.) 2,832 FTEfinancial year 2025
- 2 TUI AIRLINES BELGIUMZaventem 1,073 FTEfinancial year 2025
- 3 NOORDZEE HELIKOPTERS VLAANDERENOstend 129 FTEfinancial year 2025
- 4 FLYING SERVICEAntwerp 75.0 FTEfinancial year 2025
- 5 ABELAG AVIATIONWevelgem 59.8 FTEfinancial year 2024
Joint committees
from the latest accounts of 28 companies- 315.02 Commercial aviation 14
- 100 Auxiliary committee for blue-collar workers 5
- 200 Auxiliary committee for white-collar workers 5
- 226 White-collar workers in international trade, transport and logistics 3
- 111 Metal, mechanical and electrical engineering 1
- 119 Food trade 1
- 149.02 Coachwork 1
- 209 White-collar workers in metal manufacturing 1
Show the 2 others
- 315.01 Commercial aviation 1
- 315.03 Commercial aviation 1
Source: the annual accounts at the National Bank. One filing can name more than one committee.
Division 51: Air transport
Bankruptcies per year in division 51
| Per year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Bankruptcies | 2 | 4 | 4 | 1 | 3 | 2 | 2 | 1 | 2 | 4 | 1 |
| Jobs lost | 4 | 170 | 8 | 78 | 4 | 2 | 2 | 1 | 2 | 313 | 8 |
2026 through January. Every bankruptcy, also of companies that have since left the register. Source: Statbel (Directorate-General Statistics), NACE classification of 2008.
Staff cost per FTE in NACE division 51
28 employersEmployers with the highest staff cost per FTE in this division All sectors by staff cost In the Analysis workbench
3 of the 359 companies in NACE division 51 have a parent company abroad. Main parent countries: Switzerland (1), Germany (1) and Ireland (1). Together they employ 1,494 of the division's 5,536 FTE: 27%, against 14% for Belgium as a whole.
Subsidies in this sector
per register · legal entities with an enterprise number- Flemish subsidies €9.8m awarded
- Wallonia-Brussels Federation €16,000 paid
- EU budget €653,576 attributed share
- EU research €552,960 EU contribution
Insights on Air transport
Balance sheet and result. 25.0% of the annual accounts show negative equity, against 12.4% in Belgium. The median net result of €5,677 is below Belgium's €16,465. 40.2% of the annual accounts close with a loss, against 26.7% in Belgium.
Bankruptcies. The median bankruptcy probability of 0.4% is above Belgium's 0.2%.
Inflow and structure. 33.0% of the companies are sole traders, against 41.6% in Belgium. In 12 months, 7.8 of 100 companies started, against 8.9 in Belgium. That is more than in 57% of the 87 NACE divisions. This activity holds 87.0% of the registrations of Air transport.
Staff and filing. 32.5% of the financial year 2024 accounts were filed late, against 38.5% in Belgium. The 5 largest employers hold 4,169 of the 4,761 FTE: 87.6%.
Direction. Median solvency fell from 39.8% in financial year 2020 to 37.1% in financial year 2025. The median net result rose from €2,505 in financial year 2020 to €5,677 in financial year 2025.
The comparison with Belgium as a whole and with the other divisions is as of 15-11-2026 05:30.
Method and sources
Every company registered today counts under its main activities in the KBO. Establishment units do not count. Staff counts once, under the employer's first main activity, from its latest accounts and only where it fits the staff costs. The count follows the NACE 2025 classification, the version in which code 511 exists.
The bankruptcies over five years count only companies still registered today, because the activity of a company that left the register is not kept. So they are fewer than the bankruptcies of those years, and the figure is not a probability for the future. Over twelve months the count is nearly complete, because a bankrupt company stays registered while its bankruptcy runs. A company with more than one main activity counts in each of those sectors.
The comparison with Belgium as a whole and with the other NACE divisions rests on an overview of every division, counted again each night. Each division is counted in the version of the NACE classification in which it exists. A standing such as "more than in 80%" compares with the other divisions that have the figure. A division's bankruptcy probability is the median over its companies with a score. Belgium here counts the 1,276,359 companies with a main activity, because only those belong to a division. The other 699,951 registrations publish no activity.
Each median is the value of the middle company, computed over the annual accounts of financial year 2025, and is shown only from 30 accounts. A share (loss-making, negative equity) counts that year's accounts with that trait. Accounts are late when they are filed after the statutory deadline. The direction per financial year follows the companies still registered today. Missing or 90 days late counts the companies with accounts missing today, or whose latest were filed more than 90 days after the deadline. The dossier follows the same rule.