Brussels Airlines reports €58 million loss in 1Q 2024, including €14 million due to strikes

Brussels Airlines faced deeper losses in the first quarter of this year compared to the same period last year, largely attributed to recent social unrest and strikes, costing the Belgian airline an estimated 14 million euros.

The social unrest centred around disputes over wages and working conditions for the airline’s staff. In mid-January, pilots staged a one-day strike, followed by three days of work stoppage by flight attendants at the end of February. While pilots threatened another strike at the end of March, it was ultimately averted.

Nina Öwerdick, the Chief Financial Officer, emphasised the immediate impact of strike threats on travellers: “As soon as a strike is announced, we see an immediate impact on our customers. When there is uncertainty, people refrain from booking with us.” She further noted that the uncertainty caused stress for those who had already booked. However, agreements have since been reached with both the pilots and cabin crew, aiming to restore stable operations.

Despite the turbulence caused by the strikes, Brussels Airlines managed to increase its passenger numbers by 4% in the first quarter compared to the previous year, reaching over 1.66 million passengers. Additionally, revenue saw a 3% increase, totalling 289 million euros. However, the airline reported a higher loss of 58 million euros, compared to 43 million euros in the same period last year.

While the first quarter is typically weaker for the aviation sector due to reduced travel demand, Brussels Airlines remains optimistic about the rest of the year. The airline aims to surpass its operational performance in 2023 when it achieved a record operational profit of 53 million euros.

Despite the financial setbacks, Brussels Airlines highlights several positive developments in the first quarter, including the relaunch of flights to Krakow, the acquisition of a third Airbus A320neo, the unveiling of the new Belgian Icon Amare with Tomorrowland and the establishment of a new training centre.

Looking ahead, the airline has exciting projects lined up for the second quarter, including the inauguration of flights to Nairobi, and the opening of a new crew room at Brussels Airport.

While challenges persist, Brussels Airlines remains committed to improving its profitability and delivering exceptional service to its passengers in the coming months.