Brussels Airlines reduced its operating loss in the first half

Brussels Airlines recorded an operating loss (EBIT) of 89 million euros in the first half of 2022, a 38% improvement over a year ago.

Airline Brussels Airlines tripled passenger numbers in the first half of 2021 compared to the same period in 2021 Partially offset its operating lossesLufthansa announced the partnership on Thursday.

Brussels Airlines saw its profit before interest and tax (EBIT) fall from -143 million euros in the first half of 2021, marked by sluggish demand due to the Covid-19 pandemic, -89 million euros For the first six months of 2022. However, this period was not easy, with its consequences Omicron variant and four days in June marked by flight disruptions Strike movement.

In the first half of this year, Brussels Airlines welcomed 2.73 million passengers On board his flight, either Three more times Compared to the same period last year. Aircraft occupancy rate reached 72.6% in the first half of 2022, an increase of about 12 percentage points.



“Larger inflation, coupled with still very high fuel prices and a strong dollar position, has resulted in substantial increases in our costs.”

Nina Overdick

Financial Director of Brussels Airlines

Strikes, covid, inflation…

There are airlines Increased revenue by 228% Compared to the previous year, to reach €452 million In the first half of 2022. But, at the same time, Operating costs have increased A total of 97%, to reach 572 million euros, due to volume growth and a sharp rise in costs.

“Not only did the strike have a strong impact on our results, but automatic indexation in Belgium increased our labor costs by 6% this year alone, and by 8% if we consider indexation in November. Fuel prices are still very high AndInflation More generally, our costs have increased substantially, combined with the strong dollar position”, notes Chief Financial Officer, Nina Overdyk.

And then?

Brussels Airlines described the fourth quarter of the year as a “question mark”, with the evolution of Covid “still unknown”. “Given the unexpectedly high costs, The projected balance for the full year is no longer within reach. For the second half of the year, Brussels Airlines intends toeven breaks“, announced the company, which again employs more than 3,200 people and is currently looking to hire 65 people.

500 million

euro

Lufthansa, the parent company of Brussels Airlines, posted its first net profit in the second quarter since the Covid-19 pandemic and forecast operating results for 2022 of at least 500 million euros.

Lufthansa back to green

parent company of Brussels Airlines, LufthansaThe leading European air transport group, its achievements in the second quarter First net profit after the Covid-19 pandemic and forecast at least one operating profit for 2022 500 million euros.

The carrier, through its cargo arm, benefited mainly in the second quarter Demand and prices continue to be high in freight transportationHowever results for airlines – Lufthansa, Austrian, Swiss, Eurowings and Brussels Airlines – remained in the red.

Due to airport bottlenecks and staff shortages, the group has slightly lowered its traffic expectations for the third quarter, which promises to be even more challenging.

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