Brussels Airlines achieves the most profitable summer in its history

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Between July and September, Brussels Airlines transported 2.4 million passengers out of a total of nearly 18,000 flights serving 91 destinations in 40 countries, with a load factor of 85.2%.

Also, his turnover increased by 10% and reached 478 million euros in the third quarter, compared to 436 million in the same period last year. Adjusted EBIT (results before interest and taxes) amounted to 72 million euros, an improvement of 21 million euros (+41%) compared to last summer which had already set a record . “This is the most profitable summer in its history“, underlined the Belgian airline in its press release. Although the year is not yet over and caution remains in order, the Belgian subsidiary of the German group Lufthansa plans to achieve record annual results in 2023. For the fourth quarter, it is aiming for the break-even point, although macroeconomic and geopolitical elements could still influence these results.

This summer, the closure of Niger’s airspace had a considerable impact on operations to sub-Saharan Africa. Some flights had to be canceled, others had to take detours, leading to an increase in flight time and fuel consumption. Brussels Airlines estimates that the political situation in Niger will cost it around 4 million euros. Other challenges include rising fuel prices and general inflation.

Concerning its passenger traffic in the third quarter, its overall capacity was still 15% below pre-pandemic levels. Strong profitability will allow the Belgian national carrier to continue to close this gap, with five brand new A320neo aircraft (the first of which was delivered this week) and the tenth long-haul aircraft joining the fleet soon.

Brussels Airlines is also increasing its workforce to support its growth in all departments such as maintenance and engineering, IT, cockpit and cabin crew. The airline currently has around 240 open positions and plans to recruit around 360 new colleagues in 2024. In total, Brussels Airlines currently employs 3,392 people, an increase of more than 5% compared to the previous year.

John Walker Avatar