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Air transport

NACE 51210 · division 51 Air transport
Current registrations 68division 51: 518
Starters, 12 months 39division 51 · 7.5 per 100 · Belgium 7.5
Bankruptcies, 5 years 22.94% of the registrations · Belgium 1.61%
Employment (FTE) 5,225division 51 · financial year 2025
Median age 8.8 yearsdivision 51 · Belgium 10.7 years

Filed accounts of the division

NACE division 51 · financial year 2025 · 220 filed annual accounts
Median solvency
36.4%
Belgium 46.2%
Median net result
€5,958
Belgium €16,557
Median equity
€66,430
Belgium €98,554
Loss-making
39.5%
Belgium 26.7%
Negative equity
24.1%
Belgium 12.4%
Median return on equity
9.6%
Belgium 15.9%
Median liquidity
1.55
Belgium 1.66

Staff cost per FTE in NACE division 51

29 employers
Median
€86,900
Belgium €61,400
Middle half
€66,800 to €97,300
half of the employers lie between
Place among sectors
6 of 78
sectors with a median staff cost per FTE, highest first

Bankruptcies

Bankruptcies, 12 months
0
division 51 · 0.0 per 1,000 registrations · Belgium 5.5

Recent bankruptcies

Date Company
10-09-2025 SkyAngels
BE 0505.607.550
18-03-2022 SPA AIR SERVICE
BE 0548.952.494

Every bankruptcy in division 51, last 90 days

Spread across the country

by region and province · 61 of 68 enterprises with a registered office on file
  • Flanders 31 · 50.8%
  • Wallonia 18 · 29.5%
  • Brussels 9 · 14.8%
  • Unknown 3 · 4.9%
fewer moremax 13

Largest employers

NACE division 51 · staff from the latest accounts
  1. 1 BRUSSELS AIRLINESMachelen (Brab.) 2,832 FTEfinancial year 2025
  2. 2 TUI AIRLINES BELGIUMZaventem 1,073 FTEfinancial year 2025
  3. 3 ASL Airlines BelgiumGrâce-Hollogne 409 FTEfinancial year 2025
  4. 4 dnataMachelen (Brab.) 144 FTEfinancial year 2025
  5. 5 NOORDZEE HELIKOPTERS VLAANDERENOstend 129 FTEfinancial year 2025

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 5,537 FTE: 27%, against 15% for Belgium as a whole.

Subsidies in this sector

per register · legal entities with an enterprise number
  • Flemish subsidies €9.8m awarded 32 recipients · 2022 to 2025 · largest: Werkingssubsidie S&S Nv Kortrijk-Wevelgem
  • Wallonia-Brussels Federation €16,000 paid 1 recipient · 2025 · largest: Dépenses de toute nature pour le financement de projets divers en liaison avec la politique de l'enseignement
  • EU budget €653,576 attributed share 3 recipients · 2021 to 2025 · largest: Decentralised Agencies, Joint Undertakings, EU institutions
  • EU research €552,960 eu contribution 2 recipients · 2016 to 2021 · largest: Horizon 2020

Explore every recipient in this sector

Insights on Air transport

The number of starters per 100 companies in NACE division 51 is higher than that of 55% of the 87 NACE divisions with this figure.

This sector's historical share is higher than that of 89% of the 88 NACE divisions with this figure.

The median bankruptcy probability in NACE division 51 is 0.4%, against 0.2% for Belgium as a whole. It is computed over 272 scored companies.

The comparison with Belgium as a whole and with the other divisions is as of 02-11-2026 05:30.

Method and sources

Every company registered today counts under its main activities in the KBO. Establishment units do not count. The count follows the NACE 2025 classification, the version in which code 51210 exists.

The historical share is the share of current registrations for which a bankruptcy opening was published in the past five years. A company with more than one main activity counts in each of those sectors. The historical share is not a future bankruptcy probability.

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 "higher than 80%" compares with the other divisions that have the figure. A division's bankruptcy probability is the median over its companies with a score. Their number is given with the figure.

The filed-accounts figures cover the whole NACE division 51, not only NACE 51210. There are too few filed annual accounts per five-digit code to compute them separately. Each median is the value of the middle company, computed over the division's 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.