Brussels Airlines has closed its first quarter with a loss of €44 million, an improvement of 29% compared to the previous year. The traditionally lowest performing period of the year in the aviation industry was this time impacted by continuously high fuel prices and the skyrocketing inflation, said the airline.
Brussels Airlines' revenue rose by nearly 79% year-on-year to €280 million in the first quarter of 2023 owing to a solid increase in production of 37% (Available Seat-Kilometres) and an additional long-haul aircraft.
Operating expenses rose by 54% to €350 million principally due to higher production related volume costs such as airport fees and charges or fuel consumption, price-related increase of fuel expenses, as well as the inflation and the full impact of the automatic salary indexation.
“The results of this first quarter are in line with our expectations. The improvement of our Revenues by almost 79% and the Adjusted EBIT by 29% gives us confidence and confirms we are on track to reach solid black results for the whole of 2023,” said Nina Oewerdieck, Chief Financial Officer at Brussels Airlines.
From March 26 until October 28 2023, two CityJet CRJ-900 aircraft will strengthen the Belgian flag carrier's fleet in a wet-lease agreement.
Two additional A320s have joined Brussels Airlines’ fleet permanently and will be deployed across the entire medium-haul network. With these measures Brussels Airlines plans to grow its European operations by 10% this summer.
Since April 15, 2023, Dorothea von Boxberg - previously CEO of Lufthansa Cargo – took on the role of chief executive and chief commercial officer, as well as a Representative of the Executive Board to the European Commission for Lufthansa Group.