October 28, 2020

Kup

News Updates Everyday

Coronavirus takes a heavy toll: Brussels Airlines earns 182 million …

Coronavirus takes a heavy toll: Brussels Airlines earns 182 million ...

Due to the corona crisis, Brussels Airlines achieved an adjusted operating profit of -182 million euros in the first half of 2020. The airline reported this on Thursday.

Like all other airlines, Brussels Airlines is severely affected by the corona crisis. From March 21 to June 14, all scheduled flights were canceled. There were only flights for repatriation and ambulance transport. In the first six months of this year, Brussels Airlines carried 67 percent fewer passengers (1.6 million).

Sales fell by 63 percent to 252 million euros in the first half of the year. The operating result (EBIT) – earnings before interest and taxes – amounted to -211 million euros. Adjusted for the depreciation of 29 million euros for ten aircraft, this corresponds to a negative operating result of 182 million euros.

“In response to the crisis, Brussels Airlines immediately took drastic measures to reduce not only variable costs, but also fixed costs,” it said. This led to a decline in operating expenses of 39 percent to 463 million euros.

On June 15th, Brussels Airlines resumed its flights and they are gradually increasing again, “in line with market demand and taking into account the ever-changing travel restrictions,” it said. Due to the uncertainty surrounding the corona crisis, the company is not making any forecasts for the rest of the year.