Step 1: Prepare the Meatloaf Mixture

1. In a large mixing bowl, combine ground beef, onion, bell pepper, egg, bread crumbs, salt, pepper, and 2 tablespoons of ketchup.
2. Mix with your hands or a spoon until just combined. Avoid overmixing to keep the meatloaf tender.

Step 2: Shape the Loaves

1. Tear a piece of parchment paper to fit your air fryer basket.
2. Divide the meat mixture into two equal portions and shape each into a loaf. Place the loaves on the parchment paper.

Step 3: Add the Bacon Topping

1. Lay halved strips of bacon over the top of each loaf, slightly overlapping if needed.
2. In a small bowl, mix the brown sugar with the remaining ¼ cup of ketchup. Brush this glaze generously over the bacon-topped loaves.

Step 4: Preheat the Air Fryer

1. Preheat your air fryer to 350°F (175°C) for 3–5 minutes.
2. Place a small pan or rimmed baking sheet in the air fryer basket to catch any drippings.

Step 5: Cook the Meatloaf

1. Transfer the parchment paper with the loaves into the air fryer basket.
2. Cook at 350°F for 25–30 minutes, or until an instant-read thermometer inserted into the center of the loaves registers 160°F.
3. If the bacon browns too quickly, tent the loaves with foil.

Step 6: Rest and Serve

1. Once cooked, remove the meatloaves from the air fryer and let them rest for 5–10 minutes to redistribute the juices.
2. Slice and serve with your favorite sides like mashed potatoes or steamed vegetables.