Belgian flag carrier Sabena suffered a BFr563 million ($14 million) net loss last year, after registering its first profit in 40 years in 1998. The carrier blamed the result on high fuel prices and transatlantic overcapacity, plus the cost of launching its Airline Management Partnership with Swissair. Operating profit was 84% down on 1998 at BFr597 million, with an after-tax gain of BFr237 million wiped out by restructuring costs to give the net loss, which compares with 1998's BFr902 million net profit.
Some indicators were positive, with Sabena carrying more than 10 million passengers for the first time and posting a record turnover of BFr89.9 billion.
Source: Flight International
