Economy

Brussels Airlines swallowed a record loss in disaster year 2020

Ultimately, Brussels Airlines transported just under 2.4 million passengers in 2020 last year. That is a whopping 77 percent less than in 2019, when there were more than 10 million.

Sales fell by 72 percent to EUR 414 million, with a record loss: EUR 293 million adjusted EBIT and EUR 332 million. Last year they were 27 and 32 million euros respectively.

Thanks to a government loan from the Belgian government, worth EUR 290 million, Brussels Airlines was ultimately able to stay afloat. Part of this was taken up in December and February, together accounting for 192 million. In addition, Lufthansa invested 170 million euros in the Belgian subsidiary.

Before the corona crisis, there were already restructuring plans at Brussels Airlines. These were intensified and accelerated by the unexpected world crisis: of the nearly 4,000 employees, nearly 700 left. There was and still is heavy demand for temporary unemployment, and new collective labor agreements were negotiated. In addition, 10 aircraft were also permanently removed from the fleet.

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