After several challenging years for the company, Brussels Airlines has reported its most profitable quarter ever after an exceptionally strong summer.
The company announced on Thursday that the third quarter of 2023 was the most profitable in the history of Brussels Airlines, with the adjusted operating profit (EBIT) rising by €21 million to €72 million compared to the same period last year.
Brussels Airlines recognised that some challenges occurred during the summer, such as the temporary closure of the Niger airspace after the coup d'etat, which cost an estimated €4 million due to the rerouted paths and cancellations added to the increasing fuel prices, it was "able to keep costs under control".
"This brings the Adjusted EBIT for the first nine months of the year to €59 million. The airline can now confidently state that a record-breaking profit is expected for the full year of 2023," it noted.
Still below pre-Covid levels
The airline transported 2.4 million passengers on more than 17,000 flights between July and September, achieving an average occupancy rate of 82.5%. However, total capacity in the last quarter remains 15% below pre-Covid levels.
The airline aims to break even in the fourth quarter, "even if macroeconomic and geopolitical elements can still influence these results." It eventually hopes to close this gap with its five brand-new A320neo aircraft1 and the tenth long-haul plane that will soon join the fleet.
To support this growth, the airline noted that it currently has about 240 open positions and expects to recruit around 360 new colleagues in 2024.
