Brussels Airlines reports record profit and plans further growth
Brussels Airlines has posted a record profit for the past year, driven by a “very successful” second half, the airline announced on Thursday. It expects “significant growth” in 2025.
The airline recorded stable revenue of 1.54 billion euros, while its adjusted operating profit (EBIT) rose by 11 per cent to 59 million euros, setting a new record. The profit margin improved to 3.8 per cent, with the company aiming to reach 8 per cent in the coming years.
Although fewer flights were operated than in 2023, the addition of an extra long-haul aircraft, an Airbus A330, increased overall seat availability. Passenger numbers rose by 1 per cent to nearly 8.4 million.
Fast growth
A subsidiary of the German Lufthansa Group, Brussels Airlines remains optimistic about 2025. Two additional aircraft will be added to the fleet: an Airbus A320 for the European network and an A330 for long-haul routes.
During the summer, the airline will also lease four Air Baltic A220 aircraft. “All this makes Brussels Airlines the fastest-growing airline within the Lufthansa Group,” CFO Nina Öwerdieck said.
“Brussels Airlines is the fastest-growing airline within the Lufthansa Group”
Lufthansa confirmed on Thursday that Brussels Airlines will receive three more A330 long-haul aircraft in the coming years, increasing its long-haul fleet to 13. These aircraft will primarily serve destinations in sub-Saharan Africa. “The goal is to develop Brussels Airlines into a European hub for flights to and from Africa,” Lufthansa said.
At the end of 2024, Brussels Airlines had a fleet of 46 aircraft and employed 3,573 people - 5 per cent more than the previous year. The airline plans to hire around 350 additional employees this year.
Record revenue
On Thursday morning, Lufthansa Group, which includes Swiss, Austrian Airlines and Eurowings, also published its annual results. The group reported record revenue of 37.6 billion euros, a 6 per cent increase from 2023.
However, its adjusted operating profit fell by 40 per cent to 1.6 billion euros, partly due to strikes that cost around 450 million euros. The group’s airlines collectively carried 131 million passengers, a 7 per cent increase.
Lufthansa recently expanded its portfolio with the Italian airline ITA Airways, finalising the acquisition of a 41 per cent stake in January. The German group has the option to take full control of ITA in the future.
A Brussels Airlines Airbus A320 Neo © BELGA PHOTO NICOLAS MAETERLINCK
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