Brussels Airlines reports record summer profits

Brussels Airlines, the Belgian subsidiary of Lufthansa, has announced record profits for the third quarter of 2024, with an operating profit of 78 million euros. This result, an 8.3 per cent increase on the same period last year, was driven by improved performance on long-haul flights and increased punctuality.

From July to September, Brussels Airlines transported 2.5 million passengers across 17,000 flights. Despite a 2.5 per cent reduction in flights compared to the same period last year, the airline saw a 1.3 per cent increase in passengers. 

The airline’s growth was fueled by its long-distance routes, with a notable highlight being the new destination of Nairobi, Kenya, which quickly achieved the highest occupancy rate across Brussels Airlines’ long-distance network. Enhanced punctuality also played a role, as delayed flights incur substantial additional costs.

However, these gains in the third quarter have not fully offset earlier setbacks. Brussels Airlines faced significant disruptions this year due to delayed engine deliveries and labour disputes.

Strikes in the first quarter, including a one-day pilot strike in January and a three-day strike by cabin crew in February, resulted in an estimated loss of 58 million euros. As a result, the airline’s operating profit for the first nine months of the year stands at 32 million euros, 27 million euros less than at the same point in 2023.

The ongoing turmoil in the Middle East has also impacted the airline. Brussels Airlines, which typically offers 10 to 14 flights a week to the region, has suspended these routes but remains ready to resume service as conditions allow.

Despite the challenges, Brussels Airlines maintains confidence in achieving “solid and profitable results” by the end of 2024.

^{A plane of Brussels Airlines on the tarmac in Brussels Airport © BELGA PHOTO HATIM KAGHAT}