Brussels Airlines has closed its first semester of 2022 at -€89 million, an improvement of 38% compared to the previous year. The first months of the year were still impacted by the consequences of the Omicron COVID-19 variant, while June was marked by four days of flight disruptions due to strike actions. Inflation and high fuel costs continue to influence the airline’s results, but thanks to its restructuring, the airline is set up with a competitive cost position to face the future.
In the first half of this year, Brussels Airlines welcomed 2.73 million passengers on board its flights. This is three-times higher than the same period last year, when the COVID-pandemic and subsequent travel bans plummeted air travel demand.
Brussels Airlines increased its revenue by €314 million or 228% year-on-year to €452 million in the first half year of 2022 (previous year: €138 million), thanks to expanded flight operations and higher yields. The revenues in the first semester of 2022 were still impacted by slow demand at the beginning of the year due to the Omicron wave. Later in June, the airline faced four days of flight plan disruptions due to a national manifestation and social actions. If not taking into account the strike days, June was an EBIT-positive month, in line with the estimations of Brussels Airlines’ restructuring plan.
Operating expenses went up by a total of €282 million or 97% to €572 million (previous year: €290 million), due to higher volume and steep increases of costs. (£1.00 = €1.19 at time of publication).