The economic damage from the terrorist attacks is harshly hitting the most important Belgian company. European Antitrust fears new rescue case coming soon
by Emanuele Bonini
The European Antitrust is ready to re-open the Brussels Airlines file, the main flag air company of Belgium. Due to the bombings attacks of March the 22th in the Belgian capital city, the airline company is facing a serious financial situation. As Zaventem international airport remained closed after the terrorist attacks, the air carrier is not operating flights. According to circulating figures it has been estimated that Brussels Airlines is registering losses approximately around 5 million € per day, reports neither confirmed nor denied by the company. It has to be reminded that only in 2014 Brussels Airlines had a net loss of worth 4,2 million €. Concerns rose up in the European Commission. Given the situation it is not considered as improbable that Belgian authorities could grant State-aids in order to help the company, and the Direction General for Competition fears to have to deal with a new, eventual, rescue case. Economic troubles are expected for Brussels Airlines: this is element of great concern in Belgium as in Europe, and this is one of the main reason (perhaps the main one) why the Belgian authorities are pushing to re-open the airport in Zaventem.
Brussels Airlines is what remains of the historical flag air company Sabena. This was rescued by SwissAir after having encountered financial problems, than in 2001 SwissAir fell in bankruptcy. Sabena was replaced in 2002 by SN Brussels Airlines, the new national air company which merged with Virgin Express in 2007. Then in 2008 German air carrier Lufhansa announced the intention of acquire a 45% stake in Brussels Airlines with an option to acquire the remaining 55% from 2011. Green light from the European Commission arrived the 15th of June 2009. A financial crisis for Brussels Airlines would affect Lufthansa group as a whole and the civil aviation sector, too. Brussels Airlines has in place trade partnerships with more than 20 other air carrier, both European and non European.
The EU authorities responsible for the dossier have started considering more and more probable to re-open the Brussels Airline case, whose solutions seemed to be got once and for all in six years ago. Of course, the story has not been made official yet because of no formal case. Until any request of State aid or merger proposal is presented to the European Commission, the latter can't say anything. Furthermore the general hope is Brussels Airlines won't experience new financial turbulences, even if Europe is watching carefully and closely monitoring the situation.
The European Antitrust is ready to re-open the Brussels Airlines file, the main flag air company of Belgium. Due to the bombings attacks of March the 22th in the Belgian capital city, the airline company is facing a serious financial situation. As Zaventem international airport remained closed after the terrorist attacks, the air carrier is not operating flights. According to circulating figures it has been estimated that Brussels Airlines is registering losses approximately around 5 million € per day, reports neither confirmed nor denied by the company. It has to be reminded that only in 2014 Brussels Airlines had a net loss of worth 4,2 million €. Concerns rose up in the European Commission. Given the situation it is not considered as improbable that Belgian authorities could grant State-aids in order to help the company, and the Direction General for Competition fears to have to deal with a new, eventual, rescue case. Economic troubles are expected for Brussels Airlines: this is element of great concern in Belgium as in Europe, and this is one of the main reason (perhaps the main one) why the Belgian authorities are pushing to re-open the airport in Zaventem.
Brussels Airlines is what remains of the historical flag air company Sabena. This was rescued by SwissAir after having encountered financial problems, than in 2001 SwissAir fell in bankruptcy. Sabena was replaced in 2002 by SN Brussels Airlines, the new national air company which merged with Virgin Express in 2007. Then in 2008 German air carrier Lufhansa announced the intention of acquire a 45% stake in Brussels Airlines with an option to acquire the remaining 55% from 2011. Green light from the European Commission arrived the 15th of June 2009. A financial crisis for Brussels Airlines would affect Lufthansa group as a whole and the civil aviation sector, too. Brussels Airlines has in place trade partnerships with more than 20 other air carrier, both European and non European.
The EU authorities responsible for the dossier have started considering more and more probable to re-open the Brussels Airline case, whose solutions seemed to be got once and for all in six years ago. Of course, the story has not been made official yet because of no formal case. Until any request of State aid or merger proposal is presented to the European Commission, the latter can't say anything. Furthermore the general hope is Brussels Airlines won't experience new financial turbulences, even if Europe is watching carefully and closely monitoring the situation.
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