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The Belgian flag carrier welcomed almost 50% more passengers compared to the same period in 2021.

Brussels Airlines closes the third quarter of 2022 with 51 million euros, the highest quarterly result in its 20-year history. In addition, the airline will pay back the government loan early, by the end of this year. The Belgian national airline welcomed almost 50% more passengers compared to the same period in 2021. For the future, Brussels Airlines is aiming for strong and profitable growth through the expansion of the fleet, the recruitment of new employees in all departments and the continued positive cooperation with the social partners.

During the third quarter of 2022, Brussels Airlines welcomed 2,28 million passengers on board its flights. This is an increase of almost 50% compared to the same period last year. The airline's revenues also increased in the third quarter, to 436 million euros. This brings the result for the first three quarters to 888 million euros, almost half of which was achieved in the last quarter.

Both of the above results can be explained by the combination of the increasing business traffic and the further recovery in demand for leisure travel, with another prolonged summer being observed. Operating expenses increased to EUR 408 million, mainly due to higher production volume, the strong dollar position and strong increases in fuel, personnel, airport and other taxes. As a result, adjusted EBIT for the third quarter of 2022 amounted to EUR 51 million.

Brussels Airlines will repay government loan at the end of 2022
In July 2020, the Belgian federal government awarded a stabilization package of 290 million euros to Brussels Airlines to overcome the unprecedented crisis caused by the corona pandemic and create a sustainable future. Today, the Belgian airline announced that it will repay this loan, with the support of the Lufthansa Group, before the end of this year.

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Brussels Airlines.

Brussels Airlines is expanding its fleet
In order to strengthen its position as market leader at Brussels Airport, the Belgian airline will expand its fleet by 2023 medium-haul aircraft in 4. While the modalities for the fleet expansion are still being finalized, it is clear that the company will, among other things, expand its operations to neighboring countries and optimize its European point-to-point and feeder network.

Together with the two medium-haul and one long-haul aircraft that entered service earlier this year, this additional growth will bring Brussels Airlines' fleet to 36 medium-haul and 9 long-haul aircraft next summer, compared to 30 and 8 respectively in 2020, as decided in REBOOT. Plus. With this fleet, network and personnel expansion, the Belgian airline is achieving its intended growth four years ahead of schedule. More details on the fleet expansion and network enhancement will be announced in the coming weeks.

Partial recovery of business traffic still expected
During the fourth quarter, Brussels Airlines expects a further recovery in business traffic. While some sectors such as the public sector and the maritime sector have fully resumed their travel, other sectors are still traveling at a slower pace. Brussels Airlines expects to reach 80% of 2019 business traffic this year.

Striving for profit in 2023
Due to the difficult first half of the year and accumulated losses, still heavily impacted by the pandemic and the massive increase in fuel costs, Brussels Airlines will not reach a break even for the full year. The airline is still aiming for a positive result for 2023.

Brussels Airlines and its social partners continue to work on the future
In addition to the targeted growth for 2023, the airline already grew by one long-haul and two medium-haul aircraft in the past quarter. The recruitment campaign that followed confirmed its attractiveness as an employer with more than 12.000 applications (of which more than 1.800 pilot candidates) leading to nearly 300 new hires. Brussels Airlines now has 3.217 employees, according to the Belgian airline.

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