As a result of the coronavirus pandemic and its ongoing and unprecedented impact on the aviation sector, Brussels Airlines reports an EBIT loss of €143 million in the first semester of 2021. The non-essential travel ban in the first quarter and continuous travel restrictions severely impacted the airline’s passenger numbers. First half-year revenues fell 45% below the prior-year level, to €138 million compared to €252 million. Compared to the previous year, Brussels Airlines transported 57% fewer passengers between January and June. The seat load factor dropped by 11.7 percentage points to 60.7%.
A non-essential travel ban in the first quarter of the year, followed by continuous strict travel restrictions, severely impacted passenger numbers. The Belgian airline transported 57% fewer passengers in the first half-year compared to the same period last year.
As a result, revenue at Brussels Airlines fell year-on-year by 45% to €138 million in the first semester of 2021 compared to €252 million in H1 2020. The operating income of €147 million was 48% lower than the year before. The COVID-19 crisis forced Brussels Airlines – after a good start into the year – to suspend its operation almost entirely for the period between mid-March and mid-June 2020. Since then, the production level is significantly lower and not yet back on pre-crisis levels.
In the first half-year of 2021, operating expenses fell by 37% to €290 million, primarily due to the volume-related decline in the cost of materials and services. Brussels Airlines has reduced expenses significantly due to its turnaround program, Reboot Plus, of which the restructuring phase is almost completed. However, remaining fixed costs continue to put pressure on the operating expenses.
Brussels Airlines operated 55% fewer flights during this period compared to 2020 (6,295 flights compared to 14,114). The number of passengers transported dropped from 1,590,448 in the first semester of 2020 to 676,372 for the first half of 2021. As to the seat load factor, the latter went down from 72.4% to 60.7% in the first six months of 2021.
On June 29, the Lufthansa Group Executive Board and the Board of Directors of SN Airholding authorized the allocation of three Airbus A320neo aircraft to Brussels Airlines, which will leave the Airbus factory by summer 2023.