SNBA lost 30m EUR in Q1
Contrary to earlier statements SN Brussels Airlines, the successor of the defunct Belgian flag carrier Sabena, has made a loss of 30 million EUR in the first three months of 2003. The loss in this year's first quarter was barely noticeable in the published accounts with the National Bank of Belgium. Earlier press statements only talked about a loss between 10 and 15 million EUR.
And still, the CEO keeps claiming that SNBA will post a profit for the whole of 2003.
Imo, these guys are suffering from the same illness as the Sabena management, i.e. not wanting to admit that their business plan is crap.
In 2002 SNBA made an operational loss of more than EUR 100m.
What does SNBA think? That we are stupid or what? Maybe our Belgian politicians (who helped SNBA being started up) are too blind to see what is really happening.