The EU Commission has approved a €460 million ‘Stablisation Package’ for Lufthansa Group carrier Brussels Airlines. The Belgian government and Lufthansa have reached agreement on a bailout package of €290 million from the country’s government and €170 million from the German carrier for its wholly-owned subsidiary Brussel Airlines.
In a statement announcing the news Brussels Airlines said that this package would secure tens of thousands of jobs which are directly and indirectly linked to the firm.
“Just like in the past, Brussels Airlines can also in future count on the support of its mother company Lufthansa. In the last years Lufthansa invested more than €600 million in our company, allowing us to rejuvenate our fleet and invest in a new cabin interior that increases our competitiveness and reduces our CO2 footprint,” said Dieter Vranckx , chief executive of Brussels Airlines.
“Today, Lufthansa gives us the means to carry out our turnaround plan and offers Brussels Airlines a future with long-term perspectives.”
In May Brussels Airlines announced plans to reduce its workforce by 25 per cent, as well as cutting 30 per cent of its aircraft fleet.