Brussels Airlines (SN/BEL) has announced it will cut 1,000 jobs and reduce its fleet size by one-third as it restructures to deal with the global crisis caused by the Coronavirus Pandemic.
The Belgian airline suspended operations on the 21st March and has been losing €1m per day ever since.
The decision will see Brussels Airlines lay off about 25 percent of its workforce.
It will also cut a number of unprofitable routes including Brussels to Bristol, Lanzarote and Sicily.
In a statement, Brussels Airlines CEO Dieter Vranckx said: “This unprecedented crisis has worsened our financial situation, obliging us to take substantial and indispensable measures,” adding “The company is confident that with its turnaround plan it will be able to safeguard 75 percent of its employment and grow again in a profitable way as soon as the demand for air travel has recovered to a new normal, which is expected as of 2023”
Brussels Airlines current has a fleet of 54 aircraft made up of Airbus A319, A320 & A330 aircraft. This will be cut to just 38 in the restructuring.
The airline’s owners, Lufthansa are are also in talks with the Belgian Government about a €290m financial aid package.
With regards to the job cuts, the airline hopes to avoid involuntary redundancies by ending temporary freelance contracts first.