Profitable second quarter for Brussels Airlines, strong outlook for Summer

Brussels Airlines has reported an adjusted EBIT of €11.6 million for the second quarter of 2024. Although this represents a decline from the same period in 2023, the Belgian carrier remains optimistic about its financial performance for the year, bolstered by a robust summer season outlook and strategic fleet enhancements.

During the first six months of 2024, Brussels Airlines transported 3.9 million passengers on nearly 30,000 flights, achieving an average seat load factor of 82%. Despite the decreased production in the second quarter, attributed to a global shortage of spare parts and a shift in maintenance schedules, the airline’s cost-management strategy has enabled it to maintain profitability.

The reduced capacity in the second quarter, partly due to the inability to renew a wet-lease partnership, resulted in fewer available seats compared to the same period in 2023. Nevertheless, the airline’s strategic response to these challenges underscores its resilience and operational efficiency.

Nina Öwerdieck, Chief Financial Officer of Brussels Airlines, emphasised the company’s strategic resilience: “Aviation is a very volatile industry with highs and lows. At Brussels Airlines, we’ve achieved a cost base that allows us to be profitable, even when we face headwinds. We were able to be profitable in the second quarter, which proves our strategy is working. We remain committed to reaching a strong profitable result in 2024, aiming for maintaining the profitability level of 2023.”

The first quarter of 2024 was notably affected by strikes and strike threats, leading to an adjusted EBIT of -€47 million for the first half of the year. However, with high demand anticipated for the summer, the airline is poised for improved performance in the upcoming months.

Enhancing its fleet, Brussels Airlines welcomed its fifth Airbus A320neo (OO-SBE) on July 10th and added an additional Airbus A330 for long-haul operations. The airline also resumed its Nairobi route, reinforcing its commitment to expanding and optimising its network.

As Brussels Airlines prepares for a promising summer, the carrier’s strategic initiatives and fleet expansion are expected to drive a strong performance for the remainder of 2024, maintaining the positive momentum from the previous year.