Profitable second quarter for Brussels Airlines, strong outlook for summer
From April to June, Brussels Airlines established an adjusted EBIT of EUR 12 million
Brussels, July 31st 2024 - Brussels Airlines reports an adjusted EBIT of 11.6 million euros in the second quarter of 2024. This is a weaker result than the second quarter of 2023, mainly because of a lower production. The Belgian home carrier has in the meantime grown its fleet with an additional Airbus A330 and added Nairobi to its long-haul destinations. Brussels Airlines expects a very strong summer season and remains confident about overall profitability in 2024.
In the first six months of 2024, Brussels Airlines transported 3.9 million passengers on close to 30,000 flights, with an average seat load factor of 82%.
Overall, the production in the second quarter was lower than in the same period in 2023. This is mainly due to the worldwide shortage of spare parts and a shift of maintenance from Winter to Spring. Moreover, the Belgian home carrier wasn’t able to extend a partnership with a wet-lease operator that was used last year and therefore had less available seats between April and June 2024.
This resulted in an adjusted EBIT of 11.6 million euros in the second quarter.
“Aviation is a very volatile industry with highs and lows. At Brussels Airlines, we’ve achieved a cost base that allows us to be profitable, even when we face headwinds. We were able to be profitable in the second quarter, which proves our strategy is working. We remain committed to reach a strong profitable result in 2024 aiming for maintaining the profitability level of 2023.”
- Nina Öwerdieck, Chief Financial Officer, Brussels Airlines
Taking the first quarter results into account which were impacted by strikes and strike threats, Brussels Airlines reports an adjusted EBIT of -47 million euros for the first half of 2024. As the demand is still high, the Belgian airline expects strong results for the summer.
The Belgian home carrier finalised the first phase of its fleet renewal by welcoming the fifth Airbus A320neo (OO-SBE) on 10th July. For the summer season, Brussels Airlines has added one additional Airbus A330 aircraft to its fleet for long-haul flights, and reopened the route to Nairobi.
Joëlle Neeb