For Brussels Airlines, 2017 was marked by positive financial results in a highly competitive environment and strategic investment for the future.
- Operating profit of €14.98 million in 2017 (IFRS standard)
- Continued highly competitive environment which, in combination with a strong capacity increase linked to fleet alignment (+11%), led to important yield pressure
- Market share increased by 1.4 p.p. (+ 1.3 million passengers)
- 9.1 million passengers (+17.3%) leading to a record seat load factor of 78.8% (+4.1 p.p.)
- Key strategic projects implemented, weighing on 2017 results, but creating new sources of profit (Thomas Cook/launch of Mumbai/Toronto)
- Excluding one-time costs of strategic investments, the operating result amounts to €25 million
- €1.326 billion revenues and a cash position (€204 million) that remains very solid, despite the reimbursement of €16.8 million of airport security subsidies following negative decision by European Commission. The additional 2 years of subsidies which were expected to be received have been cancelled, which will negatively impact the BGAAP net result (exceptional one-time effect)
- Brussels Airlines hired 645 new staff members (including 160 crew members of Thomas Cook Airlines Belgium)
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