Brussels Airlines announced sharply improved results in the first half of 2023, partly due to a growing demand and higher yields.
During the first half of 2023, Brussels Airlines welcomed 3.95 million passengers on board its flights. This is a 45% increase over the same period last year. The Belgian company increased its revenues by €253 million, or 56% year-on-year, to €705 million in the first half of 2023 (previous year: €452 million). These revenues were achieved through increased demand, more stable operating performance and higher yields. two planes wet lease and the integration of two aircraft medium-haul in the fleet have made it possible to increase the offer of medium-haul flights.
Operating expenses increased – in line with production growth, such as a 34% increase in flights – by a total of €184 million or 32% to €756 million (previous year: €572 million). euros). Expenditure was also strongly influenced by the effect of inflation over the whole year and by the increase in royalties and airport charges. Consequently, the bit adjusted for the reporting period amounted to -12 million euros (prior year: -89 million euros), an improvement of 87% compared to the first half of 2022. The second quarter ended with a profit of 31 million euros.
“The results for our first half of 2023 are fully in line with our expectations”commented Nina Oewerdieck, CFO, Brussels Airlines. “In 2022, we reported historically strong third quarter results. This year, I am proud to note that we have already achieved a record in the second quarter. This gives us great confidence to achieve strong black results for the whole of 2023.”
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