The Belgian Federal Government, Lufthansa and Brussels Airlines have reached an agreement securing the future of Belgium’s flag carrier and the long-term development of the airline.
The stabilisation package of €290 million from the Belgian Federal government and the €170 million financial support of Lufthansa cover parts of the losses incurred by Brussels Airlines as a consequence of the COVID-19 crisis and secures at the same time tens of thousands of direct and indirect jobs that are linked to the activities of Brussels Airlines. The airline said that, thanks to Lufthansa, it can finance its restructuring plan and offer the company a long-term and structurally profitable future. Brussels Airlines added that the stabilisation measures allow it to overcome the present crisis and to continue operating its flights to generate sufficient funds to reimburse the loan.
Dieter Vranckx, CEO of Brussels Airlines, commented: “Just like in the past, Brussels Airlines can also in future count on the support of its mother company Lufthansa. In the last years Lufthansa invested more than €600 million in our company, allowing us to rejuvenate our fleet and invest in a new cabin interior that increases our competitiveness and reduces our CO2 footprint.
“Today [July 24], Lufthansa gives us the means to carry out our turnaround plan and offers Brussels Airlines a future with long-term perspectives.”