Sabena was blocked by the Belgian authorities. In 1989, British Airways and KLM purchased stakes in Sabena, which were later sold back to the Belgian government. In 1993, Air France purchased a large minority stake in Sabena, which it sold soon after. Finally, in 1995, Swissair purchased a 49 percent stake in Sabena and took over management. In 1993 Sabena adopted its third and final logo, and its head office was in the Air Terminus building on Rue Cardinal Mercier in Brussels. In 1994, Paul Rusesabagina, a manager for Sabena-owned hotels in the former Belgian territory of Rwanda, sheltered over 1,200
Sabena planes were part of a record-order of 34 Airbus A320 family aircraft, imposed on Sabena when under Swissair management. After an airline recession and the effects on the airline industry of the September 11 attacks in 2001, all airlines that flew across the Atlantic suffered. Swissair had pledged to invest millions in Sabena but failed to do so, partly because the airline had financial problems itself, having filed for bankruptcy protection one month prior. The company filed for legal protection against its creditors on 3 October, and went into liquidation on 6 November 2001. Fred Chaffart, Chairman of the Board