This week has seen Brussels Airlines report a considerable reduction in its losses, showing that the Lufthansa Group member is heading in the right direction.
In the first half of this year, the carrier handled 3.95 million passengers, which is up 45% compared to the same period last year.
Revenue at the carrier increased from 452 million euros to 705 million euros, highlighting a 56% increase on that front.
Brussels Airlines Has Reduced its Losses…
The adjusted EBIT for Brussels Airlines in 1H23 was -12 million EUR, which is a major improvement from the reported 89 million EUR loss reported in 1H22.
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Commenting on these improvements was Nina Oewerdieck, the Chief Financial Officer for the carrier:
“The results of our first semester of 2023 are completely in line with our expectations. In 2022, we communicated historically high third-trimester results.”
“This year, I am proud to see that we already delivered a record in the second quarter. This inspires us great confidence to reach solid black results for the entire year of 2023.”
Brussels Airlines was keen to note that the reduction in losses is in line with expectations and seasonality of the aviation business.
On top of this, more stable fuel prices, increasing demand, and higher yields mean that they expect to be back in the black and in profit by the end of 2023.
Overall, this is good news for the carrier, as the priority now will be returning to profitability off the back of the COVID-19 pandemic, which caused considerable disruption to their operation.
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