aviation: Brussels Airlines with a quarterly loss of 44 million euros



Brussels Airlines ends the first quarter with a loss of 44 million euros, an improvement of 29% compared to the previous year. Persistently high fuel prices and skyrocketing inflation have impacted what has traditionally been the airline industry’s weakest period of the year.

Revenue of Brussels Airlines grew by EUR 123 million year-on-year in the first quarter of 2023, or a fast 79%, to EUR 280 million (previously: EUR 157 million), thanks to a solid 37% increase in production (available seat-km) and an additional long-haul aircraft.
In the first three months of 2022, production was still severely affected by the Corona crisis and was only 61% compared to the level of 2019. This share climbed to 84% in the first quarter of 2023 compared to the same period in 2019.

Operating expenses increased by a total of EUR 123 million or +54% to 350 mines. EUR (Previous year: EUR 227 million), mainly due to high product-related volume costs such as airport fees and taxes or fuel consumption indexation of salaries. As a result of his conviction, the adjusted EBIT increased to EUR -44 million in the reporting period (previously: EUR -62 million).

The article Brussels Airlines with a quarterly loss of 44 million euros appeared first on Aviation.Direct.

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