Published on : Thursday, March 17, 2016
Brussels Airlines can look back on a successful 2015. Thanks to the commercial success, the successful repositioning in the market and ongoing cost control, 2015 ended with a net profit of 41.3 million euros. “Our efforts to make Brussels Airlines an attractive, dynamic and competitive airline has paid off in the past year,” says CEO Bernard Gustin.
With a passenger increase of 13%, Brussels Airlines is one of the fastest growing airlines in Europe. The airline’s seat load factor increased by 3.4 percentage points. This growth, the result of the growing flight offer and Brussels Airlines’ repositioning as a competitive airline offering service as well as low fares, have contributed to strong financial results.
Profitable network in all three regions
Brussels Airlines’ turnover increased by 6.9% to a total of 1.274 billion euro. After a break-even in 2014, the higher turnover, together with a significant cost reduction in 2015, has resulted in an operating profit of 43.1 million euro and a net profit of 41.3 million euro. The European network as well as the African and Trans-Atlantic flights were profitable in 2015.
The low fuel price has had a positive impact on the results, but it would be wrong to assume this is the most important factor. Other external cost elements such as the strong dollar and increased air traffic control taxes have diminished the beneficial effect of the fuel price. In addition, the temporary lockdown in Brussels, at the end of last year, and the unstable Russian market situation also had a negative impact. At the same time, Brussels Airlines lowered its ticket price further by an average of 10%.