Brussels Airlines is to implement a three-year downsizing strategy aimed at stemming losses and achieving sustainable profitability.
"The airline has grown a lot in recent years, but profit didn't follow," says the Lufthansa subsidiary. "We need to take a step back to enable us to grow in the future."
Having embarked on an evaluation of the network and fleet to see where reductions can be made, the Belgian carrier is targeting a sustainable profit margin of 8% by 2022.
It acknowledges that cutting back its operations would entail job cuts, but has not provided any figures. There have been discussions with employee unions, and the airline is seeking to make any redundancies on a voluntary basis. A more detailed announcement will be made to staff on 24 October.
The move follows a four-month internal investigation into how profitability can be restored, a process that began in June when it was announced that Brussels Airlines would not integrate further with Lufthansa subsidiary Eurowings.
Cirium fleets data shows that the airline operates a fleet of 42 Airbus A320-family jets, as well as 15 Airbus A330s, one A340 and five Bombardier CRJs. Its route network consists of 72 destinations in Europe, 23 in Africa, three in North America and one in the Middle East. In recent years, it has only sporadically posted a profit.