From July until September, Brussels Airlines reached an adjusted EBIT of 78 million euros, which is once again a record profit for the Belgian airline. These results have been achieved thanks to increased production on the long-haul network and strong regularity figures. Year to date, Brussels Airlines has lower results than in the same period in 2023. The airline couldn’t fly on full capacity during the first half of the year due to both internal and external factors. The strong summer results prove however that the airlines’ strategy is working.
During the third quarter of 2024, Brussels Airlines transported 2.5 million passengers on more than 17,000 flights. The number of passengers rose by 1.3% compared to the same period last year. The total number of operated flights however decreased by 2.5%. Brussels Airlines added a 10th long-haul aircraft to its fleet and increased its capacity to sub-Saharan Africa. The recently restarted Nairobi-route even had the highest overall seat load factor of the Belgian home carrier’s long-haul flights within the concluded Summer period. On the other hand the lack of additional production by a wet-lease carrier especially for the high demand in the summer led to lower production on the European network.
Brussels Airlines was also able to significantly improve its reliability. Between July and September, the airline noted a regularity1 of close to 99% and 72% of all flights arrived on-time2. This landed Brussels Airlines amongst the top 5 most punctual major airlines in Europe. A high punctuality is not only positive for passengers, it also improves the financial results as irregularities come with high cost. Brussels Airlines is committed to improve the punctuality even further in the future.
The high punctuality and increased production lead to an adjusted EBIT in the third quarter of 78 million euros, an improvement of 8% compared to summer 2023.
|
During the first nine months of the year, the airline’s overall result is an adjusted EBIT of 32 million euros. This is 27 million euros lower year-on-year, mainly due to the lower production and engine supply chain issues in the second quarter and industrial actions in the first quarter. Overall, Brussels Airlines is confident to reach solid profitable results in 2024.
A challenge remains the uncertainty in the Middle East – where in normal operations the Belgian airline has 10 to 14 flights per week – leading to flight cancellations. Brussels Airlines remains committed to connect the region to Brussels and beyond, when the situation allows.
Improving seasonality
Demand in the aviation industry traditionally is very seasonal, with high demand in summer, and lower demand in winter. Brussels Airlines is countering that by adding more flights to warm-water destinations and offering passengers a ‘summer escape’ during the cold and dark winter months. During the winter season, the Belgian home carrier will launch flights to Fuerteventura (Canary Islands, Spain) and increase frequencies to Alicante, Malaga, Valencia (Spain), Faro, Lisbon and Porto (Portugal) and Athens (Greece).
Brussels Airlines has also signed a wet-lease agreement with Air Baltic. The Latvian carrier will base 4 A220 aircraft in Brussels during next year’s summer season to operate flights on behalf of Brussels Airlines. This allows the Belgian carrier to plan more flights in summer and reduce capacity in winter.
