"Brussels Airlines improves first quarter 2023 results at -44 million euro EBIT"

" Brussels Airlines improves first quarter 2023 results at -44 million euro EBIT \r\n\r\nBrussels Airlines closes its first quarter at EUR -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.\r\n\r\nBrussels Airlines'\u00a0 revenue went up by EUR 123 million or nearly 79% year-on-year to EUR 280 million in the first quarter of 2023 (previous year: EUR 157 million), thanks to a solid increase in production of 37% (Available Seat-Kilometres) and an additional long-haul aircraft.\r\n\r\nDuring the first three months of 2022, the production was still very much impacted by the Corona crisis and only 61% versus the level of 2019. This percentage climbed to 84% in the first quarter of 2023 compared to the same period in 2019.\r\n\r\n Operating expenses \u00a0went up by a total of EUR 123 million or +54% to EUR 350 million (previous year: EUR 227 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.\r\n\r\nAs a result, the\u00a0 Adjusted EBIT \u00a0in the reporting period amounted to EUR -44 million (previous year: EUR \u201362 million).\r\n \r\n \r\n \r\n <a href=\"https:\/\/press.brusselsairlines.com\/brussels-airlines-improves-first-quarter-2023-result-at-44-million-euro-ebit?utm_source=email&utm_medium=campaign&utm_id=95eb6a82-7c22-4056-8c1a-e0f143f02a89&asset_type=image&asset_id=2d631030-0d67-405b-ae8b-5bb117cad66e#image-2d631030-0d67-405b-ae8b-5bb117cad66e\" target=\"_blank\" rel=\"noreferrer noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/press.brusselsairlines.com\/brussels-airlines-improves-first-quarter-2023-result-at-44-million-euro-ebit?utm_source%3Demail%26utm_medium%3Dcampaign%26utm_id%3D95eb6a82-7c22-4056-8c1a-e0f143f02a89%26asset_type%3Dimage%26asset_id%3D2d631030-0d67-405b-ae8b-5bb117cad66e%23image-2d631030-0d67-405b-ae8b-5bb117cad66e&source=gmail&ust=1683201728715000&usg=AOvVaw3Wa-yZGHScWm1ylJbpBLHD\"> \r\n \r\n \r\n \r\n Spreading awareness on sustainability\r\n\u200b Fleet renewal and sustainable aviation fuel (SAF) are the most powerful levers to reduce the CO2 and noise emissions from flights. Brussels Airlines was proud to be the first airline to transport SAF through NATO\u2019s CEPS-pipeline on 1 st \u00a0January 2023.\r\n\r\nSince February 15 th\u00a0 this year, with the introduction of \u201cGreen Fares\u201d for all flights to and from Europe and North Africa, Brussels Airlines is raising widespread awareness among passengers that they, too, can help reduce the impact of flying.\r\n\r\n A solid base for the summer season \r\n\r\nFrom March 26 th \u00a0until October 28 th \u00a02023, two CityJet CRJ-900 aircraft will strengthen the Belgian flag carrier's fleet in a wet-lease agreement. This cooperation allows the airline to grow its fleet in a flexible manner and increase its European offer.\r\n\u200bTwo additional Airbus A320s have joined Brussels Airlines\u2019 fleet permanently and will be deployed across the entire medium-haul network. With these measures Brussels Airlines' European operations will grow by 10% this summer.\r\n\r\nSince April 15 th \u00a02023, Dorothea von Boxberg - previously CEO of Lufthansa Cargo - is appointed as Chief Executive Officer (CEO) and Chief Commercial Officer (CCO). She also takes on the function of \"Representative of the Executive Board to the European Commission\" for Lufthansa Group."

"Brussels Airlines improves first quarter 2023 results at -44 million euro EBIT"

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