Brussels Airlines has closed its first semester of 2023 at -€12 million, an improvement of 87% compared to the previous year. The first quarter ended at -€44 million, in-line with expectations and seasonality of the aviation business – and the second quarter closed at €31 million Adjusted EBIT. The more stable fuel prices, the increasing demand and higher yields provide the confidence that the airline will reach solid black numbers for the whole of 2023.
In the first half of 2023, Brussels Airlines welcomed 3.95 million passengers on board its flights. This is a rise of 45% compared to the same period last year.
The airline increased its revenue by €253 million, or 56%, year-on-year to €705 million in the first half year of 2023 (previous year: €452 million), thanks to increased demand, a more stable operational performance and higher yields. Two wet-lease aircraft and the integration of two medium-haul aircraft in the fleet lead to a higher offer in medium-haul flights.
Operating expenses went up, in-line with the production increase such as an increase of 34% of flights – by a total of €184 million or 32% to €756 million (previous year: €572 million). The expenses were also highly impacted by the full-year effect of inflation and higher airport fees and charges.
As a result, the Adjusted EBIT in the reporting period amounted to -€12 million (previous year: -€89 million), an improvement of 87% compared to the first semester of 2022. The second quarter only, resulted in a profit of €31 million. (£1.00 = €1.15 at time of publication)
