COVID-19: Brussels Airlines Records EUR 233 Million Loss
In the first three quarters of the year, Brussels Airlines recorded a loss of EUR 233 million, due to the unprecedented impact of the coronavirus on travel demand. Revenue fell by 70% to EUR 339 million compared to last year.
Brussels Airlines transported 73% fewer passengers between January and September and the seat load factor dropped by 11.4 percentage points to 70.6%.
Revenues were down by 70%, from EUR 1.137 million to EUR 339 million. Brussels Airlines transported 2,107,954 passengers between January and September, compared to 7,905,953 last year (-73%).
A total of 18,757 flights have been operated in the period under review, a 70% decline compared to the 62,683 flights in the first three quarters of 2019.
Load factor dropped 11.4% points from 82% to 70.6%. Operating expenses decreased by 49% to EUR 607 million, primarily due to the volume-related decline in the cost of materials and services.
The coronavirus has a dramatic impact on aviation worldwide. Brussels Airlines adjusted its flight schedule to the collapsed travel demand and the different travel restrictions, leading to a twelve-week flight suspension in spring and a reduced flight schedule during summer.
The airline resumed its flight operations to Africa in July, re-establishing the important travel link between Europe and the African continent.