Co-founder and long-time chairman leaves Brussels Airlines
Sunday, 26 July 2020
Etienne Davignon, long-time chairman of Brussels Airlines, will not be on the company’s new board of directors, La Libre Belgique reported on Sunday.
“I’ve finished my mission, after creating the company and saving it twice,” Davignon told the newspaper.
Davignon co-founded Brussels Airlines with Maurice Lippens in 2002, one year after the Sabena airline went under. The two men had convinced Belgian investors to finance the new airline. Since then, Brussels Airlines has been bought over by the German group Lufthansa.
Facing financial difficulties linked to the new coronavirus (Covid-19) crisis, Brussels Airlines will receive a loan of €290 million from the State of Belgium, as well as a €170 million capital injection from Lufthansa.
This agreement still needs to be approved by the German Stabilisation Fund and the European Commission.