Irish low-cost carrier Ryanair is currently making "mind-blowing" profits from flights at Charleroi Airport whilst indirectly benefiting from generous government subsidies, La Libre reports.
According to an anonymous source described by the paper as "a British aviation specialist," Ryanair earned a net profit of €21 for every passenger departing from Belgium's second-largest commercial airport last year.
This is significantly more than the pro rata rates pocketed by the airline at its other major airport hubs, including Dublin (€16 per passenger), Bergamo (€8 per passenger), and London Stansted (just over €1 per passenger).
In total, Ryanair earned €160 million from its operations at Charleroi Airport in 2022. Its profit margin of more than 30% per passenger was also described by the source as "a record."
"These figures are mind-blowing," the source added.
'Why are we giving away public money?'
Ryanair's substantial profit margin is largely due to the relatively high ticket prices charged at Charleroi. The average Ryanair ticket for a flight departing from the airport in 2022 cost €67, compared to €65.50 from Dublin, €58 from London Stansted and €56.50 from Bergamo.
Airport fees are also significantly lower at Charleroi compared to other airports. For instance, no passenger fees are charged at Charleroi, while at Brussels Airport Zaventem such levies can reach up to €24.91.
As La Libre's source explained, Charleroi's fees can afford to be low primarily because the airport receives substantial public subsidies, estimated to be around €30 million per year.
"[These] subsidies no longer make any sense," the source said. "Without this public money, the airport would be at a loss... Charleroi could triple the amount of its [airport] fees and Ryanair would stay."
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The source added that the Walloon Government benefits little from the airline's operations. "The Irish company earned €160 million last year in Charleroi. But this money goes directly to the company's headquarters in Dublin: it does not really benefit Wallonia."
Didier Lebbe, a spokesperson for the Confederation of Christian Trade Unions (CNE), which represents Ryanair employees, echoed the source's remarks. "Why are we giving public money to this airport to allow a mafia which does not respect any rules to do such a lucrative business? Especially since all this financial windfall completely escapes the Belgian tax authorities."
La Libre's report follows Ryanair pilots' announcement earlier this week that they will strike on 14 and 15 of August.
Employees accuse the airline of harvesting bumper profits while failing to reverse salary cuts implemented during the Covid-19 crisis. They also allege that Ryanair has violated a previous agreement regulating pilot rest times.
The latest strike will be the third time in the past month that Ryanair pilots have taken industrial action at Charleroi, after previous strikes on 15-16 and 29-30 July.
