Another record summer for Brussels Airlines, thanks to 10^th long-haul aircraft and improved punctuality

The Belgian airline closes third quarter with an adjusted EBIT of 78 million euros

29/10/24

Brussels, October 29, 2024 - From July until September, Brussels Airlines reached an adjusted EBIT of 78 million euros, which is once again a record profit for the Belgian airline. These results have been achieved thanks to increased production on the long-haul network and strong regularity figures. Year to date, Brussels Airlines has lower results than in the same period in 2023. The airline couldn’t fly on full capacity during the first half of the year due to both internal and external factors. The strong summer results prove however that the airlines’ strategy is working.

During the third quarter of 2024, Brussels Airlines transported 2.5 million passengers on more than 17,000 flights. The number of passengers rose by 1.3% compared to the same period last year. The total number of operated flights however decreased by 2.5%. Brussels Airlines added a 10^th long-haul aircraft to its fleet and increased its capacity to sub-Saharan Africa. The recently restarted Nairobi-route even had the highest overall seat load factor of the Belgian home carrier’s long-haul flights within the concluded Summer period. On the other hand the lack of additional production by a wet-lease carrier especially for the high demand in the summer led to lower production on the European network.

Brussels Airlines was also able to significantly improve its reliability. Between July and September, the airline noted a regularity¹ of close to 99% and 72% of all flights arrived on-time². This landed Brussels Airlines amongst the top 5 most punctual major airlines in Europe. A high punctuality is not only positive for passengers, it also improves the financial results as irregularities come with high cost. Brussels Airlines is committed to improve the punctuality even further in the future.

The high punctuality and increased production lead to an adjusted EBIT in the third quarter of 78 million euros, an improvement of 8% compared to summer 2023.

“Our focus on the customer and profitable growth has proven to be right. The addition of the 10^th long-haul plane has a clear positive impact on our financial results. That’s why we have already decided to add three more Airbus A330’s in our fleet in the coming years. I’m happy to see a healthy Brussels Airlines that is growing and expanding in a profitable way. I would like to thank all our colleagues for their hard work during this past summer.”
- Nina Öwerdieck, Chief Financial Officer, Brussels Airlines

During the first nine months of the year, the airline’s overall result is an adjusted EBIT of 32 million euros. This is 27 million euros lower year-on-year, mainly due to the lower production and engine supply chain issues in the second quarter and industrial actions in the first quarter. Overall, Brussels Airlines is confident to reach solid profitable results in 2024.

A challenge remains the uncertainty in the Middle East - where in normal operations the Belgian airline has 10 to 14 flights per week - leading to flight cancellations. Brussels Airlines remains committed to connect the region to Brussels and beyond, when the situation allows.

Improving seasonality
Demand in the aviation industry traditionally is very seasonal, with high demand in summer, and lower demand in winter. Brussels Airlines is countering that by adding more flights to warm-water destinations and offering passengers a ‘summer escape’ during the cold and dark winter months. During the winter season, the Belgian home carrier will launch flights to Fuerteventura (Canary Islands, Spain) and increase frequencies to Alicante, Malaga, Valencia (Spain), Faro, Lisbon and Porto (Portugal) and Athens (Greece).

Brussels Airlines has also signed a wet-lease agreement with Air Baltic. The Latvian carrier will base 4 A220 aircraft in Brussels during next year’s summer season to operate flights on behalf of Brussels Airlines. This allows the Belgian carrier to plan more flights in summer and reduce capacity in winter.

“It’s an exciting time of sustainable and steady growth at Brussels Airlines, and I’m pleased to note that new colleagues continue to join us almost every day. In the summer months of 2025, we will also hire students for the very first time as cabin crew members. They will be selected and trained exactly the same way as our regular cabin crew members, to maintain our high standards on safety and service. This initiative will enable us to increase our workforce during the busy summer months to the maximum possible.”
- Nina Öwerdieck, Chief Financial Officer, Brussels Airlines

_{1 Regularity: the proportion of scheduled flights executed within a defined timeframe
2 On-time: when arrival or departure of the flight takes place within 15 minutes of the scheduled time}