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A historic quarter - Trends-Tendances on PC

A historic quarter – Trends-Tendances on PC

Brussels Airlines achieved the best quarter in its young history, closing at the end of September with an Ebit of 51 million euros. The company will repay the state covid loan this year.

After very difficult times (it was almost bankrupt at the start of the pandemic), Brussels Airlines is recovering. In the third quarter, the company achieved an Ebit (profit before tax) of 51 million euros, the best profit in its 20 years of existence. All signals are green…

After very difficult times (it was almost bankrupt at the start of the pandemic), Brussels Airlines is recovering. In the third quarter, the company achieved an Ebit (profit before tax) of 51 million euros, the best profit in its 20 years of existence. All the signals are green since the turnover has climbed to 436 million euros (888 since the beginning of the year), an increase of 80% compared to the same period in 2021. The company welcomed 2.28 million passengers in the 3rd quarter (+49%) with an occupancy rate of 83.9% (+13.1%). Despite these three months of fire, however, Brussels Airlines will not be profitable for the full year due to a complicated first half. In question: the impact of the pandemic and the increase in the price of fuel, not to mention the indexation of wages and the inflation of airport taxes. Nevertheless, the Reboot Plus recovery plan seems to be bearing fruit. Faced with this return to profits, the Lufthansa group decided to reimburse earlier than expected the 290 million euros received from the Belgian State as covid aid. The deadline was set for 2026 but the debt will be cleared by the end of the year via a capital increase. Moreover, and as was expected in the event of good results, the Brussels Airlines fleet will grow. It will receive four additional A320s next year. With the three A320neo already received to replace the old A219, the company will then have 36 medium-haul and nine long-haul. Brussels Airlines still aims to achieve profitability in 2023.

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