On July 24, Brussels Airlines reached an agreement with the Belgian Federal Government and Lufthansa to secure the future of Belgium's home carrier and herewith the long-term development of the airline through a stabilization package.
On August 17, the package was approved by the German Economic Stabilization Fund (WSF) and on August 21 the EU Commission also gave its approval. The stabilization package of €460 million – €290 million from the Belgian Federal government and €170 million from Lufthansa – covers, in part, the losses incurred by Brussels Airlines due to the COVID-19 crisis and, at the same time, secures tens of thousands of direct and indirect jobs that are linked to the activities of Brussels Airlines.
Thanks to the package, the airline can finance its turnaround plan and herewith create a long-term and structurally profitable future. (€1.00 = US$1.18 at time of publication.)
