- Brussels Airlines Loses €70 Million in H1 2026 Despite Higher Passenger Traffic
Brussels Airlines reported an Adjusted EBIT loss of €70 million for the first six months of 2026 as sharply higher fuel costs, an Ebola outbreak in East Africa and labour disruptions in Belgium offset stronger passenger volumes and improved operational performance.
The result represented a 50% deterioration compared with the corresponding period of 2025, according to the airline, underscoring the pressure that external shocks have placed on profitability despite continued growth in traffic and revenue.
Brussels Airlines carried 4.50 million passengers across 34,200 flights during the first half, representing year-on-year increases of 8.10% and 5.50% respectively.
Revenue rose 9.50%, suggesting that underlying demand remained relatively resilient even as the airline’s cost base came under pressure.
Brussels Airlines said fuel expenditure increased by €64 million compared with the first six months of last year as unrest in the Middle East pushed oil prices higher.
That increase alone was equivalent to more than 91% of the carrier’s €70 million Adjusted EBIT loss, illustrating how sensitive airline profitability remains to movements in global energy markets.
The carrier also faced disruption from the Ebola outbreak reported in parts of East Africa during May.
Brussels Airlines said the outbreak weakened travel demand while creating operational complications involving crew scheduling and restrictions imposed by some destination countries.
The impact was particularly relevant given Brussels Airlines’ extensive African network, which has historically been a strategically important part of its long-haul business.
The company nonetheless continued expanding its African footprint during the period, launching services to Kilimanjaro in Tanzania.
Beyond geopolitical and health-related disruptions, strikes in Belgium added further pressure.
National demonstrations against government policies affected operations at Brussels Airport in March and May, while a strike by Belgian air traffic controllers at Skeyes in early June stopped flight movements across Belgium for several hours.
Brussels Airlines estimated that these third-party disruptions reduced earnings by approximately €3 million.
The carrier’s first-half performance therefore illustrates a familiar challenge for the aviation industry: airlines can improve operational efficiency and increase passenger volumes while still seeing profitability deteriorate sharply because of external costs over which management has limited control.
Brussels Airlines said its operational stability improved during the period, contributing to stronger passenger satisfaction and lower disruption-related expenditure.
Irregularity costs per passenger declined by 16%, reflecting fewer or better-managed operational disruptions attributable to the airline itself.
That improvement provides an important counterpoint to the headline loss.
While external factors damaged earnings, the airline appears to have made progress in areas it can directly control, including operational reliability and customer experience.
The company also introduced product improvements, including new tableware in Premium Economy, and unveiled a new Belgian Icon aircraft dedicated to comic character Tintin.
Chief Financial Officer Nina Öwerdieck said the airline remained confident about the second half despite the difficult start to 2026.
“Brussels Airlines is a robust company, that is not afraid to take on a challenge,” she said. “We have already navigated some storms this year, and now a successful Summer will be more crucial than ever to achieve positive full-year results.”
The airline expects higher production than in 2025 and believes stronger summer operations could allow it to improve full-year performance, provided the operating environment remains stable.
The second half will therefore be critical.
For European airlines, the summer period typically carries disproportionate importance because peak leisure demand can generate significantly stronger passenger yields and aircraft utilisation.
Brussels Airlines is also planning further product and network improvements during the period, including the introduction of high-speed Wi-Fi on its first aircraft and the reopening of its renovated lounge at Brussels Airport.
But the weaker first-half result has already forced the carrier to take a more cautious approach to 2027.
In consultation with Lufthansa Group, Brussels Airlines has abandoned previously announced plans to add two Airbus A330 aircraft next year.
Its long-haul fleet will instead remain at 11 Airbus A330 aircraft.
The decision is significant because fleet expansion normally reflects expectations of sustained demand and network growth. Deferring additional aircraft suggests management is prioritising financial resilience and capacity discipline amid uncertainty over fuel prices, geopolitics and operational disruption.
Brussels Airlines will also discontinue wet-lease capacity for the 2027 summer season.
Four airBaltic aircraft currently deployed in Brussels through the end of October will not return for summer 2027.
Those decisions could reduce capacity growth but also limit exposure to additional operating costs if market conditions remain volatile.
The airline has, however, maintained its commitment to a multi-million-euro investment in new long-haul cabins.
New Business Class, Premium Economy and Economy Class products remain scheduled to be unveiled during 2027, indicating that management is distinguishing between discretionary capacity expansion and longer-term investment in product competitiveness.
The strategy points to a more conservative growth model rather than a wholesale retreat.
Brussels Airlines is effectively seeking to protect its balance between network ambition and profitability by slowing aircraft expansion while continuing to invest in customer experience and its core long-haul fleet.
The key question is whether the stronger summer season can offset enough of the first-half weakness to deliver the positive full-year result management still expects.
With passenger numbers and revenue already rising, demand does not appear to be the airline’s central problem.
The greater risk lies in costs and external shocks.
Fuel prices, geopolitical instability, health emergencies and industrial action have demonstrated how quickly operational gains can be overwhelmed.
For Brussels Airlines, the €70 million first-half loss therefore represents both an earnings setback and a warning that the path back to stronger profitability will depend as much on external stability as on its own operational execution.
