First‑quarter 2026 results reflect contrasting start to the year for Brussels Airlines
Belgian home carrier reports €-55 million Adjusted EBIT in first trimester of 2026
Brussels, May 6, 2026 – In the first quarter of 2026, Brussels Airlines reports an adjusted EBIT of -55 million euros, a 4% decrease year-on-year. While the airline started the year with a strong performance in January and February, the national and geopolitical developments of March weighed on the results of the first quarter. As is common in the aviation industry, the first quarter remains structurally challenging.
In the first three months of 2026, Brussels Airlines operated 11% more flights than the year before, welcoming 1.9 million passengers on more than 15,000 flights. Revenue amounted to 343 million euros, representing a 12.8% increase year-on-year.
Strong start of the year
During January and February, Brussels Airlines recorded a solid operational performance. Compared to the same period last year, available seat kilometers (ASK) increased by 18%, supported by improved operational reliability. Passenger demand remained robust across the network, particularly on sub-Saharan African routes.
The positive trend was interrupted in March with a capacity growth limited to just 1% year‑on‑year. The national manifestation of March 12 once again prevented Brussels Airlines from operating its planned schedule, despite the fact that the airline itself was not involved in any of the actions. These recurring disruptions continue to have a severe impact on passengers, employees and the airline’s financial performance.
Sharp increase in fuel costs in March
In parallel, the international geopolitical tensions in the Middle East increasingly affected aviation. In March, Brussels Airlines faced a sharp increase in fuel expenses. Fuel cost per available seat kilometer rose by about 14% compared to the same period last year, representing a substantial additional burden on the results.
The Lufthansa Group fuel hedging strategy partially mitigated the impact, making it less severe than for other carriers. Nevertheless, the increase illustrates the sensitivity of airline performance to global geopolitical and energy market developments.
Capacity redeployment ahead of the summer season
Looking ahead to the summer season, Brussels Airlines redeploys capacity across its European network, due to the cancellation of flights to the Middle East and the earlier assignment of one Airbus A320neo within its network planning.
“The world today is so volatile that it is impossible to predict where we will be in just a few weeks’ time. What we do know is that Brussels Airlines today is in better shape than before the COVID crisis. We must nevertheless remain agile and continue to adapt quickly to whatever comes our way. At the same time, we continue to invest in a smart and disciplined way: in our brand, in our product and in our fleet. The arrival of new Airbus A320neo aircraft and the complete renovation of our lounge, The Loft, are concrete examples of how we keep strengthening our airline for the future, despite the many uncertainties around us. We thank our colleagues for their continued commitment and agility, which are essential in navigating this ever changing environment.”
-Nina Öwerdieck, CFO, Brussels Airlines
Maintaining flexibility in an uncertain environment
The first quarter of 2026 once again demonstrates how external shocks can rapidly influence airline performance. While Brussels Airlines remains confident in its long‑term strategy, ongoing geopolitical tensions, fuel price volatility and recurring domestic disruptions continue to create a highly unpredictable operating environment.
Brussels Airlines will therefore maintain a cautious and flexible approach in the months ahead, with a strong focus on operational reliability, cost control and customer experience.
Joëlle Neeb
