Brussels Airlines slipped further into the red in the first three months of the year compared with the same period last year. The airline bore the brunt of social tensions, which led to several strikes and threats of strikes. These cost the company around €14 million.
The social conflict – which mainly concerned staff pay and working conditions – prompted the pilots to go on strike in January, followed by three days of strike action by cabin crew in February. A further strike, planned for the end of March, was avoided.
"As soon as a strike is announced, we see an immediate impact on our customers," said Brussels Airlines CFO Nina Öwerdick in a statement. "When there is uncertainty, people stop booking." The company therefore estimates the cost of the industrial unrest at around €14 million.
Since then, agreements have been reached with both pilots and cabin crew. In the first three months of the year, the company carried 1.66 million passengers (up 4% on the same period in 2023). Turnover also increased by 3%, to €289 million.
The company's losses also increased, however. Adjusted EBIT (earnings before interest and taxes) for the first quarter was -€58 million, compared with -€43 million for the first quarter of 2023.
The first quarter is traditionally the airline industry's weakest, due to lower demand. A loss-making quarter is therefore not unusual. Brussels Airlines is maintaining its ambition to make more profit than in 2023 (i.e. a record-breaking €53 million).
