SN Brussels Airlines achieves better than expected results

Post by **luchtzak** » 25 Mar 2003, 14:33

Hi all,

check https://www.aviation24.be/modules.php?name ... le&sid=515

greetings,

luchtzak
:rock:

EXCIN · Post by **EXCIN** » 25 Mar 2003, 16:53

Yeaahhh right !!!! Better than expected for 2002.... A net loss of almost €37 million. What they didn't tell is that they have got a one time present of €100 million from the company SIC. This means the real loss is €137 million. This year they will not receive this present !!
Also since january, they have lost almost €30 million. They still can't fill the aircraft on the European flights (lower than 50% and much lower than expected) and since the code sharing with Virgin Express has stopped, they are loosing passengers to them.
Last week there was an emergency meeting with the management to talk about this problem. And now with the Gulf War, the figures will drop even more since they didn't count on this in the business plan.
The only sector which is making money is the African one.

Post by **luchtzak** » 25 Mar 2003, 17:25

Excin,

the SNBA-loss is nothing to compare with the Swiss-loss they announced today:

Swiss reported today they made a loss of almost 1 billion Swiss Francs (660-665m Euro)!!

http://www.baz.ch/news/index.cfm?Key=Wi ... 226F4B680D

greetings,

luchtzak
:rock:

meerkat · Post by **meerkat** » 25 Mar 2003, 18:56

Hi All

It certainly looks as though the skies over Europe (not to mention the US) will change over the coming months as the weak are swallowed up by the "strong" (all relative these days).

My feeling is that we will probably end up with a few large pan-european carriers who could well be made up of BA, Lufthansa and Air France. The other majors will be "alligned" with these and we will probably see some name changes to reflect the new status.

It is always possible that some of the less vulnerable players will grow as a result of problems (Virgin Atlantic etc).

Underpinning all this will be the "no-frills" carriers filling the gap which the former national carriers have left.

Please feel free to shoot me down on this as these are just amateur opinions based more on gut-feelings than real fact, but events over the last couple of years have certainly led to massive changes in air transport.

Regards

Meerkat

Sabena_690 · Post by **Sabena_690** » 25 Mar 2003, 21:52

@EXCIN,

May I ask your source for the figures you mention, + where did you get the info of emergency meeting etc from?

@meerkat,

For Europe: consolidation around BA, AF and LH will probably be what will happen... SN plays it smart with codeshare agreements with a lot of different airlines of several alliances + a nice FF program! For SNBA, it's the best option not to join an alliance!

Regards
Frederic

EXCIN · Post by **EXCIN** » 26 Mar 2003, 09:45

Sabena_690

My info is direct from the source - SNBA.

Post by **luchtzak** » 26 Mar 2003, 10:48

Source: De Tijd
------------------------------------------------------------------------------

SN Brussels Airlines bevestigt hoop op winst

(belga) - Het gaat goed met SN Brussels Airlines. Met die boodschap kwam voorzitter Rob Kuijpers dinsdag op een persconferentie. De luchtvaartsector verkeert wereldwijd in crisis door de oorlog in Irak, maar SN Brussels voelt (nog) geen effect.

"We zijn er zelf verbaasd over, maar het is zo. Onze boekingen lagen afgelopen maandag zelfs hoger dan de maandagen van de jongste weken", aldus de voorzitter. Volgens Kuijpers ligt de verklaring in het feit dat SN Brussels Airlines niet op het Midden-Oosten vliegt en geen transatlantische vluchten uitvoert. "Net daar vallen de meeste klappen". Hij durfde niet te voorspellen of ook in de toekomst geen negatief effect voelbaar zal zijn. "Dat is afhankelijk van hoe lang de oorlog nog duurt en of er terroristische aanslagen zullen plaatsvinden", zei Kuijpers.

De voorzitter hield dinsdag vast aan het eerder vooropgestelde streefcijfer, waarbij SN Brussels Airlines in 2003 een nettowinst van 5 miljoen euro zou behalen, en een positief operationeel resultaat van 10 miljoen euro.

In 2002 leed SN Brussels Airlines volgens definitieve resultaten een operationeel verlies van 102,5 miljoen euro en een nettoverlies van 36,8 miljoen euro. "Dat is beter dan verwacht", beklemtoonde Kuijpers. De omzet beliep 443,5 miljoen euro.

Kuijpers beklemtoonde dinsdag de gezonde cashpositie van SN Brussels Airlines, en hekelde de artikels die afgelopen week in de pers verschenen, waaruit zou blijken dat SN 10 miljoen euro per maand verliest. "Eind maart hebben we nog steeds meer dan 100 miljoen euro cash", aldus Kuijpers. Maandag hebben de aandeelhouders bovendien een kapitaalsverhoging toegekend van 80 miljoen euro, door het omzetten van de lening van SN Air Holding in aandelen.

"Hierdoor beschikken we over een sterke basis voor de toekomst", was de boodschap van de voorzitter. Het economisch klimaat, in het bijzonder in de luchtvaartsector, is moeilijk, en dus kondigde Kuijpers ook een aantal initiatieven aan die dit jaar in voege treden.

Aan de kostenzijde worden er specifieke maatregelen genomen, zoals het herzien van de contracten met de leveranciers en het optimaliseren van de vluchtkosten. "De piloten zijn hier zelf met voorstellen gekomen", stelde Kuijpers.

Hij beklemtoonde dat de kostenbesparingen geen effect zullen hebben op de tewerkstelling.

15:26 - 25/03/2003
Copyright © Tijdnet

kotszakje · Post by **kotszakje** » 26 Mar 2003, 13:35

I really hope that SN BA makes profit this year, but looking at their load factors for january, I am not so sure they will if it goes on like this.
I was wondering why we never hear or see any publicity for SN BA on tv, radio or magazines? most people I know don't even know the airline's name. pitty, because I only had positive experiences flying SN BA...

let's just keep our fingers crossed and hope for better times.
cheers,
fred

(off-topic: could anyone tell me which routes the A319's are now flying on?)

Post by **luchtzak** » 26 Mar 2003, 13:50

kotszakje wrote:off-topic: could anyone tell me which routes the A319's are now flying on?

SN Brussels Airlines A319's fly to Sevilla, Helsinki and Geneva

I think that:

In the summerseason they will fly to Barcelona, Helsinki and Geneva

As from juin a nightflight to Tel Aviv will be included.

greetings,

luchtzak
:rock:

fly · Post by **fly** » 27 Mar 2003, 16:57

The load factors for Feb are a little better than Jan and in March SNBA's figures where even better, loadfactor went over 55% somethimes even 60% 8O

SN-A330 · Post by **SN-A330** » 27 Mar 2003, 22:36

It's great to hear good news about SNBA. I wish them all the best

Regards, SN-A330

EXCIN · Post by **EXCIN** » 06 Apr 2003, 11:02

Does someone knows more about the fact that 5 Avro's owned by DAT (OO-DJY, DJZ, DWA, DWF & DWI) are transfered to a Leasing Company since the beginning of this year? Is this the famous "Sale and Lease back" method to manipulate company results?

Sabena_690 · Post by **Sabena_690** » 06 Apr 2003, 21:35

Nothing heard about this, EXCIN...

You seem to ignore the question of your 'favourite airline VEX' every time: do you know the load factor of VEX in February? Since they are doing so good, their loads must be sufficient also. Want to share him?

/Frederic

Tommypilot · Post by **Tommypilot** » 06 Apr 2003, 23:26

I heard also from reliable sources that VEX is really doing better and better...better then SNBA...but they will also become like VEX I hope...go SN and VEX!!!(the only prouds we have now)

Greetzzz

Post by **luchtzak** » 07 Apr 2003, 14:57

EXCIN wrote:Does someone knows more about the fact that 5 Avro's owned by DAT (OO-DJY, DJZ, DWA, DWF & DWI) are transfered to a Leasing Company since the beginning of this year? Is this the famous "Sale and Lease back" method to manipulate company results?

Excin,

now your story about sale-and-lease-back method is totally wrong! SN BA has only leasingcontracts on the RJ's. They only changed from a financial leasing contract to an operational leasing contract, it's all in the annual report.

ciao,

luchtzak
:rock:

TheSpecialist · Post by **TheSpecialist** » 07 Apr 2003, 18:43

Well guys, that's all good news, let us hope then can make profit this year.

Good Luck SNBA!

EXCIN · Post by **EXCIN** » 11 Apr 2003, 10:55

Luchtzak:

I know about the change of leasing contract but what I just want to tell you is that the 5 Avro's that I have mentioned were previously owned by Delta Air Transport NV and not by a leasing company.

Sabena_690:

And for the VEX load-factor; they are around 90% for the beginning of this year.

Post by **luchtzak** » 11 Apr 2003, 11:01

EXCIN wrote:Luchtzak:

I know about the change of leasing contract but what I just want to tell you is that the 5 Avro's that I have mentioned were previously owned by Delta Air Transport NV and not by a leasing company.

I'm sorry EXCIN, the only thing that is owned by DAT are the 146's.

Sabena_690 · Post by **Sabena_690** » 11 Apr 2003, 21:01

And for the VEX load-factor; they are around 90% for the beginning of this year.

This is NOT TRUE!!

If you would know the load factor of February (sorry, can't share it), and you take the first quarter (jan-feb-march) into consideration, it is even impossible to have 90% on average, even if January and March would have had a load factor of 100% (which is highly unlikely).

/Frederic