Brussels Airlines announces significant improvement of financial results

Brussels Airlines records a significant improvement of its financial results in 2013, thanks to the efforts of its plan “Beyond 2012-2013”. Despite difficult economic conditions, the company also reports positive business results. The improved cost position and planned investments in its product and services should provide the basis for further improvement of the results in 2014.

As predicted by Brussels Airlines’ management, 2013 has proven to be a key year in the history of the company. Beyond 2012-2013, the performance improvement plan that was initiated in 2012, has led to a decrease of 15% of the overall cost structure  and a considerable productivity increase. In addition, further investments were made for the harmonization of the fleet and for an upgrade of the airport- and in-flight product quality. Moreover, the commercial strategy was reinforced by the addition of an extra long-haul aircraft and the launch of several product formulas and partnerships. Nevertheless, the economic conditions were very challenging due to weak economic growth, high fuel prices and increased competition in Europe and Africa.

Brussels Airlines closes 2013 with a passenger growth of two percent, an improvement of the seat load factor by 2.6% and a 4,000 tonne increase in cargo volume. This has led to a record revenue of 1.138 billion euro (+2.2%). The net result also improved notably. While the net loss amounted to 59.9 million in 2012, it was reduced to -21.95 million last year. Furthermore, the balance sheet structure of the company was reinforced by a reduction of the debt and an equity investment.

“Thanks to the great efforts made by our staff and partners, for which we are very thankful, we have clearly laid the foundations for a more efficient, more flexible and more competitive airline. Our cost structure is significantly lower and our product offer is better tailored to market demand. The first results of 2014, which show a passenger increase of more than 11% in both January and February, are a clear indication of a more performant Brussels Airlines that we are developing thanks to an ambitious investment program.”

-- Bernard Gustin, CEO of Brussels Airlines

The investment program currently being implemented includes growth and further harmonization of the fleet, the opening of 11 new European destinations, the launch of a new website, the introduction of new product formulas and the renovation of the Brussels Airport lounges. Along with the efforts of the plan Beyond 2012-2013, this should lead to a further improvement in operating results in 2014.

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About Brussels Airlines

Brussels Airlines is the home carrier of Belgium and one of the four network airlines of the Lufthansa Group. It connects the European capital from Brussels Airport with over 85 destinations, 17 of which are in Sub Saharan Africa. The company employs more than 3,300 people and operates 43 aircraft.

Brussels Airlines aims to emit 50% less CO2 by 2030 compared to 2019 and plans to be carbon neutral by 2050. The airline is participating in the Stargate Project led by Brussels Airport and is therefore part of the testing ground for sustainable aviation at its home base. In addition, the airline signed the Circular Economy agreement of the Antwerp Management School in 2021. The airline was the first to transport Sustainable Aviation Fuel (SAF) through the CEPS-pipeline connecting Brussels Airport early 2023. By end 2024, Brussels Airlines will have welcomed five state-of-the-art Airbus A320neo allowing the airline to significantly lower its CO2- and noise-emissions on its medium-haul network.

As an ambassador of its country, Brussels Airlines brings the world to Belgium and the best of Belgium to the world, among others through collaborations with Belgian Star Chefs, Belgian culinary products and the Belgian Icons, specially painted aircraft that honour a Belgian iconic person, team or event to promote Belgian culture worldwide.

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About Star Alliance

The Star Alliance network was established in 1997 as the first truly global airline alliance, based on a customer value proposition of global reach, worldwide recognition and seamless service. Since inception, it has offered the largest and most comprehensive airline network, with a focus on improving customer experience across the Alliance journey.

Overall, the Star Alliance network currently offers more than 10,000 daily flights to almost 1,200 airports in 184 countries.

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