(TAN): Brussels Airlines reported an adjusted EBIT of EUR 70 million (USD 84.82 million) for the first quarter, only a 9% decrease compared to the same period last year, which included January and February 2020, two “normal” months before the coronavirus reached Europe.
The first quarter is traditionally the lowest performing one of the year in the aviation industry. The Belgian airline’s revenue fell by 76% YoY to EUR 55 million, while operating costs were brought down by 59% to EUR 130 million, in part due to lower production, but also thanks to cost-saving measures in its Reboot Plus program.
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Between January and March, Brussels Airlines welcomed 192,000 passengers, a drop of 88% compared to the first quarter of 2020, when two out of the three months were “normal” months without the impact of Covid-19. The airline operated 1,791 flights, also an 87% decrease. The average seat load factor fell by 15.3 percentage points to 58.2%.
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