Brussels Airlines future and financial perspective

[Freken]

I remember a whole different vibe when Phara de aguirre lost her bag

I believe this is still the SN future and financial perspective, and not FR. As far as I know she didn't sue FR for US$1M.

[Kittyhawk]

Anyone an idea where I can find the annual reports of SN? According to CAPA it should be on the NBB, but I can't really find it.. Thanks in advance!

[Passenger]

Anyone an idea where I can find the annual reports of SN? According to CAPA it should be on the NBB, but I can't really find it.. Thanks in advance!

http://cri.nbb.be/bc9/web/catalog?execution=e2s1
First, change preset from "Via het ondernemingsnummer" into "Via een woord in de naam" (in French: change "Par le numéro d'entreprise" into "Par un mot dans la dénomination"). Then fill in the name. Then select by postal code if there are several results with the same name. Then select the latest report via "Dowload pdf".

During weekends, the NBB server is quite often offline (website maintenance).

[Kittyhawk]

Thank you very much for your answer Passenger.

Although it is helping me further, I do feel it's a bit old fashioned that SN doesn't publicise an annual report that is more detailed for the air transport industry. It would be nice if they presented their CASK, RASK, and so on in order to analyse their fitness against others.

[flightlover]

Thank you very much for your answer Passenger.

Although it is helping me further, I do feel it's a bit old fashioned that SN doesn't publicise an annual report that is more detailed for the air transport industry. It would be nice if they presented their CASK, RASK, and so on in order to analyse their fitness against others.

And that is just why they don't want their competitors to get that info. If you can, the competition can. No need to make them wiser than they are.

[Didymus]

I guess the main reason for not publishing details is rather that the majority share of SN is privately held. In contrast to most European airlines, they're not listed on any stock market or completely owned by a company that is.

[sn26567]

SN Brussels Sued For Over US$1M Damages

[...]

Has Mr Kanneh ever heard about the IATA regulations ruling lost baggage? He will be lucky if he gets $1000... (that is, if he kept the baggage ticket!)

Brussels Airlines offers 1,131 Special Drawing Rights (1,300 EUR) as provided by the Montreal Convention. If the passenger had more valuable items, he should have declared them and subscribed a special insurance.

[sn26567]

Lufthansa is now widely expected to complete a full takeover of Brussels Airlines in 2016, thus acquiring the remaining 55% stake.

[brusselsairlinesfan]

Lufthansa is now widely expected to complete a full takeover of Brussels Airlines in 2016, thus acquiring the remaining 55% stake.

At least... Thanks for the information... Source?

[brusselsairlinesfan]

Article on aero.de regarding a possible full takeover from LH on SN... But also regarding the integration into Eurowings...

[Flanker2]

IMO as it seems to become reality, a full take-over of SN could be called a success for the staff and the Belgian nation if several or all of the following elements are met:
1. SN is kept as a separate brand within the LH group, sharing ranks with LH, LX and OS
2. A capital investment of min. 250 millions and at least 5 additional longhaul aircraft are provided within 2 years, together with a solution for the RJ's
3. Even if a major part of the back office is transfered to Germany (Eurowings/LH Technik), the front office remains Belgian, ie no staff cuts in operations, including SN Technics and other ground staff
4. Support is given for additional frequencies and market share in Africa, opening of routes in China and other niche markets

Do you agree?

[sn26567]

Press conference today

Turnover : +6.9%
Profit : 41.3 M €
240 new jobs
9th A330 next week
10th A330 end 2016
4 Avros replaced by A320s: 7% more capacity
14 new destinations last year

[Wohowbagger]

IMO as it seems to become reality, a full take-over of SN could be called a success for the staff and the Belgian nation if several or all of the following elements are met:
1. SN is kept as a separate brand within the LH group, sharing ranks with LH, LX and OS
2. A capital investment of min. 250 millions and at least 5 additional longhaul aircraft are provided within 2 years, together with a solution for the RJ's
3. Even if a major part of the back office is transfered to Germany (Eurowings/LH Technik), the front office remains Belgian, ie no staff cuts in operations, including SN Technics and other ground staff
4. Support is given for additional frequencies and market share in Africa, opening of routes in China and other niche markets

Do you agree?

1 yup
2 yup
3 yup
4 Africa part yup, I'd say next to lots of additional frequencies more routes. JNB is one of those that come to mind. With new(er) A330's and thus higher MTOW.

The China part I think isn't a market where SN needs to be focusing on. Let those be handled by its sisters or mother. There may be millions of people per city, but who's gonna fly to tiny Belgium? If they want, they can go via MUC, FRA, VIE, ZRH, ...
But investing money on routes that are high risk. I don't need to draw the picture here.

Perhaps more North-America?
SFX? LAX? BOS? EWR? MIA?

[tolipanebas]

Press conference today

Turnover : +6.9%
Profit : 41.3 M €
240 new jobs
9th A330 next week
10th A330 end 2016
4 Avros replaced by A320s: 7% more capacity
14 new destinations last year

Actually,

the real net profit is well over €46M; €5M got provisioned to be redistributed amongst all staff as a generous 'thank you'.

[sn26567]

Press conference today

Turnover : +6.9%
Profit : 41.3 M €
240 new jobs
9th A330 next week
10th A330 end 2016
4 Avros replaced by A320s: 7% more capacity
14 new destinations last year

A lot of additional information of course.

SN together with IB are the fastest growing airlines in Europe.

IAD is the most profitable route.

No decision from LH to take over the remaining 55%.

Investments: new lounge Loft 2 in Pier B.
New lounge in Kinshasa.

Fleet: -4 Avros, +3 A319s. +2 A320s, +2 A330 in 2016.

The profits for 2013-2015 include the airport security charges support, with the approval of the government which defend the case at the EU level.

Mumbai is still on the drawing board. Decision end of March depending on the business model for the 10th A330.

Ambition 10M pax in 2018 with 80% load factor and >50M € profit.

No dividend for shareholders yet.

If fuel remains stable, higher profits in 2016.

240 more staff, mainly flight crew.

[Inquirer]

Thank you for the summary, André!
Your press conference summaries are always much appreciated and highly interesting.

I found some more financial details on De Tijd during lunch break at work, some of which I find appropriate to be posted in this topic: http://www.tijd.be/ondernemen/luchtvaar ... 1458215776


Operational result: + €48,1M
Financial result: + € 46,3M
Net result: + €41,3M (they redistribute €5M to staff and plan to do so in the future too)

Results indeed do not take full benefit of lower oil prices (yet) and were negatively influenced at the end of the year by some €10M because of the significant impact the terrorist events in Paris and Molenbeek had on them through lower revenues during that period.

Operationally, they will add some 900,000 seats this year by increasing the number of routes, frequencies and size of planes flown and have the ambition to fill their planes better than last year; as a consequence they've raised their target of 8M passengers by 2018 by 25% and have set it at 10M passengers by then!

According to De Tijd, 2014 was a year best summarized as 'very close but no cigar', whereas 2015 leaves no doubt they are on the right track; for 2016, results could be even better and may top well over €50M.

I hope I provided an understandable summary for those without full access to De Tijd.

[sean1982]

Well done to all employees here for realising this result! At the end of the day a company is nothing without the dedication of its employees (and possibly even more so in aviation!)

[Flanker2]

Much better than the earlier prognosis of Davignon (was it 20 million profit at the holding level?) and in line with my expectations

At the current rate, SN should be at least 30 millions in the black for 2015 by my estimates, 50 millions couting the subsidies.

With the current growth trend and considering all factors constant, I think that a 100 million profit is appearing on the horizon for 2016.

How much is the government tantieme on these earnings in exchange for forgiving start-up loans?

Well done to all at SN and bravo to the management and shareholders for the profit-sharing.

[Bralo20]

IAD is the most profitable route.

Wonder why they don't fly more to IAD then, only 6x weekly and seasonal iso year round.

[crew1990]

The reason is that it's an agreement with united