€93 million loss for Brussels Airlines in first quarter
    Share article:

    €93 million loss for Brussels Airlines in first quarter

    Credit: Belga

    Brussels Airlines recorded a loss of €93 million in the first quarter of this year, parent company Lufthansa announced on Wednesday in its quarterly report.

    The €93 million is almost double the loss already incurred in the same period last year (€47 million). The number of passengers fell by a quarter to 1.55 million.

    Turnover for the Belgian airline fell by 17% to €233 million.

    Related Articles

     

    “Ongoing restructuring programmes at (…) Brussels Airlines are being further intensified,” Lufthansa Group confirmed in a press release, restating that “Brussels Airlines plans to reduce its fleet by 30% and its workforce by 25%.” 

    In May, Brussels Airlines pilots had proposed to reduce their working hours and salary by 45% until 2023 to avoid job losses and save the company up to €100 million, to which management reacted that it favoured structural solutions over temporary measures.

    Discussions with the Belgian authorities are ongoing regarding state aid, with measures worth €290 million on the table, but talks are complicated because the Belgian government wants guarantees that the money will go to Brussels Airlines and not to the group as a whole.

    The government had proposed a solution in which it would get a seat on the Brussels Airlines board, a solution to which Lufthansa CEO Carsten Spohr was not opposed. However, the plan clashes with EU rules.

    Jason Spinks
    The Brussels Times