Brussels Airlines has achieved an impressive financial turnaround in 2023, reporting an adjusted EBIT of 53 million euros.
This result, an increase of 127 million euros compared to the previous year, marks an important turning point for the Belgian airline on the path to sustainable profitability. With record performance in the second and third quarters, the company was able to offset the traditionally weaker first and fourth quarters, closing the year with a profit margin of 3,4%. Although this margin is still far from the ambitious target of 8%, the results reflect significant progress.
The operational turnover of Brussels Airlines increased by 24% to 1,6 billion euros, equaling the level before the corona crisis. This increase is due to an expansion of the network, a 19% increase in the number of flights, high demand and improved margins. The routes to Sub-Saharan Africa in particular once again proved to be a strong pillar for the company. The addition of a ninth long-haul aircraft had a clearly positive impact on the financial results.
"In order to achieve this growth, we are working on a sustainable and future-proof setup for our company. That is why we must also be among the best employers in Belgium in order to achieve that objective," says von Boxberg.
The number of passengers welcomed by Brussels Airlines in 2023 amounted to 8,29 million, an increase of 21% compared to the previous year, but still below pre-pandemic levels. Despite this growth in passenger numbers, operating costs were affected by external factors such as rising airport costs and geopolitical events, resulting in a 14% increase in costs to €1,55 billion.
The financial success of Brussels Airlines in 2023 provided room for investments in passengers, staff and product improvements. The introduction of the redesigned Sunrise Lounge, new amenity kits in Business Class on long-haul flights, and the addition of three brand new A320 neo aircraft to the fleet are just a few examples of how the company has further developed its services and sustainability goals. Furthermore, the expansion of the long-haul network with a tenth aircraft, adding Nairobi to the list of destinations, underlines the airline's growth ambitions.
“We still have a way to go before we reach the target of 8% profit margin, and before we can truly speak of a sustainably profitable company. We remain focused on that target and want to take further steps to achieve this in 2024. ”, says Nina Öwerdieck.
The workforce, which consisted of 2023 employees at the end of 3.394, is expected to grow by a further 2024 employees by 250. This underlines Brussels Airlines' commitment to remaining an attractive employer, something that is essential to safeguard the future of the company.
These impressive performances and plans for future growth reflect Brussels Airlines' determination to chart a sustainably profitable course, despite challenging market conditions and external factors impacting the aviation industry.
lounge
Located in the Schengen zone of Brussels Airport, THE LOFT offers a sophisticated experience for travelers. The design of the lounge focuses on providing different zones to meet the diverse needs of guests, from work stations to rest areas and shower rooms. Brussels Airlines not only has a strong focus on comfort and functionality, but also continuously invests in improving and enriching the lounge experience. Recent plans include a renovated coffee corner in collaboration with Rombouts Koffie and the organization of events that emphasize Belgian culture and hospitality, or Belgitude. These initiatives, along with partnerships with brands such as Neuhaus and Grohe, demonstrate the airline's commitment to providing a high-quality experience.
The prestigious platform of the World Travel Awards has once again chosen "Europe's Leading Airline Lounge", with THE LOFT by Brussels Airlines and Lexus winning this honorable title for the sixth time in a row.
The accessibility of THE LOFT is another point of attention. Although primarily available to Business Class travelers and members of the Miles and More loyalty program, Brussels Airlines also offers access to Economy Class passengers under certain conditions. This flexible policy, together with the option to access for a fee, underlines the inclusive nature of the service the airline aims to provide.
The World Travel Awards, often regarded as the Oscars of the travel industry, play a crucial role in recognizing world class excellence in the sector. The continued recognition of THE LOFT by Brussels Airlines and Lexus not only highlights the exceptional quality of service but also strengthens Brussels Airlines' reputation as a pioneer in the aviation industry. This award reflects the commitment of the team behind THE LOFT, whose dedication and hard work ensure that the lounge remains an oasis of peace and luxury for travelers.
