Brussels Airlines has called on the Belgian government and parent company Lufthansa to take “substantial and indispensable measures to guarantee the survival of the company”.
The carrier said that to continue to fly it needs to structurally reduce its costs to a competitive level. In addition, to overcome the present unprecedented crisis, the company is asking for support from both, its shareholder Lufthansa and the Belgian government.
“Within its turnaround plan, Brussels Airlines is structurally tackling its cost structure and optimizes its network by cutting marginally profitable and unprofitable routes, resulting in a fleet reduction of 30%. The overall size of the company, and as a consequence of its workforce, will be 25% smaller,’ said the firm in a statement.
Brussels Airlines says it is confident that with its turnaround plan it will be able to safeguard 75% of its employment and grow again in a profitable way as soon as the demand for air travel has recovered to a new normal, which is expected as of 2023.
“Achieving structural profitability is essential to secure the company’s future and new investments, while also being able to protect itself against possible new headwinds,” said the airline.