Brussels Airlines saw its profit increase by 21 million euros compared to the same period last year, to 72 million euros. The airline also expects record profits for the entire year.
The third quarter was the most profitable quarter ever for Brussels Airlines. The airline carried a total of 2.4 million passengers on more than 17,000 flights between July and September, with an average load factor of 82.5 percent. Adjusted operating profit (EBIT) therefore increased by 21 million euros compared to the same period last year, to 72 million euros. That is an increase of 41 percent compared to last year’s summer, which was already a record summer for Brussels Airlines.
The airline did face some challenges, such as the closure of the airspace above Niger, which cost it an estimated 4 million euros.
Fly more economically
The company expects that the whole of 2023 will also be a record year in financial terms and is aiming for a break-even result in the fourth quarter. The total capacity in the past quarter was still 15 percent below the pre-corona level. “Strong profitability will allow the Belgian airline to further close the gap,” it said. ‘In this context, there will be a tenth long-range aircraft and five brand new A320neo aircraft.’ The first of those five aircraft was delivered on Wednesday. The A320neo (where neo stands for ‘new engine option’) is much more economical and quieter than its predecessor A319, has 180 seats and is intended for short and medium-haul flights.
“I am very pleased that Brussels Airlines has achieved this historic turnaround,” says CEO Dorothea von Boxberg. ‘I am convinced that we have started our path to sustainable profitability.’
To achieve further growth, Brussels Airlines is looking for staff in all departments. There are currently 240 vacancies and the company wants to attract at least 360 more employees next year.