Brussels Airlines improves first quarter 2023 result at -44 million Euro EBIT

Brussels, May 3rd 2023 - Brussels Airlines closes its first quarter at EUR -44 million, an improvement of 29% compared to the previous year. The traditionally lowest performing period of the year in the aviation industry was this time impacted by continuously high fuel prices and the skyrocketing inflation.

Brussels Airlines' revenue went up by EUR 123 million or nearly 79% year-on-year to EUR 280 million in the first quarter of 2023 (previous year: EUR 157 million), thanks to a solid increase in production of 37% (Available Seat-Kilometres) and an additional long-haul aircraft. ​
During the first three months of 2022, the production was still very much impacted by the Corona crisis and only 61% versus the level of 2019. This percentage climbed to 84% in the first quarter of 2023 compared to the same period in 2019.

Operating expenses went up by a total of EUR 123 million or +54% to EUR 350 million (previous year: EUR 227 million), principally due to higher production related volume costs such as airport fees and charges or fuel consumption, price-related increase of fuel expenses, as well as the inflation and the full impact of the automatic salary indexation.

As a result, the Adjusted EBIT in the reporting period amounted to EUR -44 million (previous year: EUR –62 million).

“The results of this first quarter are in line with our expectations. The improvement of our Revenues by almost 79% and the Adjusted EBIT by 29% gives us confidence and confirms we are on track to reach solid black results for the whole of 2023.”
- Nina Oewerdieck, Chief Financial Officer at Brussels Airlines

Spreading awareness on sustainability ​
Fleet renewal and sustainable aviation fuel (SAF) are the most powerful levers to reduce the CO2 and noise emissions from flights. Brussels Airlines was proud to be the first airline to transport SAF through NATO’s CEPS-pipeline on 1st January 2023.

Since February 15th this year, with the introduction of “Green Fares” for all flights to and from Europe and North Africa, Brussels Airlines is raising widespread awareness among passengers that they, too, can help reduce the impact of flying.

A solid base for the summer season

“For several months now, we are in continuous dialogue with the different communities within our company and our union delegates. The responsibility for the future of our airline is shared by all participants. We are confident to find agreements with all employee groups which will ensure a solid base to be prepared for the summer season.”
- Nina Oewerdieck, Chief Financial Officer at Brussels Airlines

From March 26th until October 28th 2023, two CityJet CRJ-900 aircraft will strengthen the Belgian flag carrier's fleet in a wet-lease agreement. This cooperation allows the airline to grow its fleet in a flexible manner and increase its European offer. ​
Two additional Airbus A320s have joined Brussels Airlines’ fleet permanently and will be deployed across the entire medium-haul network. With these measures Brussels Airlines' European operations will grow by 10% this summer.

Since April 15th 2023, Dorothea von Boxberg - previously CEO of Lufthansa Cargo - is appointed as Chief Executive Officer (CEO) and Chief Commercial Officer (CCO). She also takes on the function of "Representative of the Executive Board to the European Commission" for Lufthansa Group.

 

Joëlle Neeb

For media requests only

 

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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.

More information on brusselsairlines.com 


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.

More information on staralliance.com

Contact

b.house Zone General Aviation - Airport Building 26 1831 Diegem

+32 2 723 89 90

press@brusselsairlines.com

www.brusselsairlines.com