EU Commission Gives the Green Light for Brussels Airlines Stabilization Package

EU Commission Gives the Green Light for Brussels Airlines Stabilization Package

On July 24th, Brussels Airlines announced that it had reached an agreement with the Belgian Federal Government and Lufthansa to secure the future of Belgium’s home carrier and herewith the long-term development of the airline through a stabilization package. On August 17, the package was approved by the German Economic Stabilization Fund (WSF).
Today the EU Commission has also given its approval.

The stabilization package of 460 million euro - €290 million from the Belgian Federal government and €170 million from Lufthansa - covers in part the losses incurred by Brussels Airlines due to the crisis and secures at the same time tens of thousands of direct and indirect jobs that are linked to the activities of Brussels Airlines. Thanks to the package, the airline can finance its turnaround plan and herewith create a long-term and structurally profitable future.

 

Dieter Vranckx, CEO of Brussels Airlines: “With this news, we finally conclude the three pillars of our survival and long-term competitiveness. We are relieved that the execution of the financial transaction can take place. We will now shift all our focus towards a timely implementation of our turnaround plan Reboot Plus. Thanks to the support and trust we receive from our shareholder Lufthansa, the Belgian government and from all our employees, we can create a strong and competitive Brussels Airlines with long-term perspectives, an important engine for the Belgian economy. For that, I sincerely thank all involved parties.”

 

About Brussels Airlines

Brussels Airlines is Belgium's national airline, connecting the capital of Europe to more than 70 destinations, whereof 15 in Africa, the continent that Brussels Airlines carries closes to its heart. Moreover, Brussels Airlines offers 54 destinations in Europe and 2 in North America. The company employs 3,300 employees and operates 38 aircraft.

In view of the global coronavirus pandemic, Brussels Airlines has committed itself to the strictest health safety measures in aviation worldwide, following the recommendations of EASA (European Air Safety Agency). Since the outbreak of the coronavirus, the Belgian airline operates an adapted flight schedule that is based on market demand and that takes into account the travel restrictions of the different authorities.

Thanks to its no-compromise positioning, Brussels Airlines combines competitive all-flexible fares with  the highest service quality. With yearly changing Belgian Star Chefs, its wide offer of Belgian food and drinks and the six Belgian Icons, Brussels Airlines is acting as a real ambassador of its country, bringing the world to Belgium and the best of Belgium to the world.

Creating over 40.000 direct and indirect jobs, Brussels Airlines plays an important role in the Belgian economy and is part of Belgium's second largest economic engine: its hub at Brussels Airport. In 2019, the airline transported over 10 million passengers to, from and via Brussels Airport.

Brussels Airlines offers cargo capacity on all its flights, commercialized by Lufthansa Cargo. The airline also handles the daily maintenance of its aircraft fleet.

Brussels Airlines is one of the four Lufthansa Group network airlines (Austrian, Brussels Airlines, Lufthansa and Swiss) and member of Star Alliance. The company was founded in 2002 and is 100% owned by Deutsche Lufthansa AG.

More information on brusselsairlines.com 

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