Traditionally weak first quarter, but Brussels Airlines' ambitious full-year target remains

Belgium’s national airline reports an adjusted EBIT of -58 million euros

Brussels, 30 April 2024 - Brussels Airlines closes the first quarter of 2024 with an adjusted EBIT of -58 million euros. A negative first quarter is not exceptional in the airline industry, as travel demand is traditionally lower the first months of the year. Although the first quarter of 2024 is weaker than the same period last year, Brussels Airlines remains ambitious to have stronger full year results this year compared to 2023.

In January, February and March, Brussels Airlines transported 4% more passengers than in the same period last year. Also, revenue and seat load factor improved year-on-year. Nonetheless, the adjusted EBIT of the first quarter is EUR -58 million and the profit margin is 5.9% points below the result of the same period last year.

A negative first quarter is not exceptional in the airline industry, as travel demand is traditionally lower the first months of the year. However, strikes and strike threats had a clear impact on the financial results. Overall, Brussels Airlines estimates that the social unrest during the first quarter cost the airline EUR 14 million.

“As soon as a strike is announced, we see an immediate impact on our customers. When there is uncertainty, people ​ refrain from booking with us. For those who had already booked, the several strike threats caused stress. We apologize for that. I am relieved we were able to reach agreements on the reward packages of our cockpit and cabin crew which will ensure the return of stable operations.” ​
- Nina Öwerdieck, Chief Financial Officer, Brussels Airlines

Overall, Brussels Airlines remains committed to make 2024 more profitable than 2023.

Despite the weaker financial results, Brussels Airlines has several positive highlights to share about the first quarter, such as the relaunch of flights to Krakow (Poland), the arrival of a third Airbus A320neo and a brand-new training center.

The second quarter also has a fair share of exciting projects, such as the reveal of the new Belgian Icon Amare together with Tomorrowland last week, the launch of flights to Nairobi and the opening of the new crew room at Brussels Airport. ​

 

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 90 destinations, 18 of which are in Sub Saharan Africa. The company employs more than 3,400 people and operates 44 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