Ita Airways’ accounts improve in 2023. The company, currently still 100% controlled by the Ministry of Economy, closed the balance sheet with a red of 5 million euros, a clear improvement compared to the 481 million loss that had characterized the previous year, still influenced by the aftermath of the pandemic. Total revenue is […]
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Ita Airways’ accounts improve in 2023. The company, currently still 100% controlled by the Ministry of Economy, closed the balance sheet with a red of 5 million euros, a clear improvement compared to the 481 million loss that had characterized the previous year, still influenced by the aftermath of the pandemic. Total revenue was even to 2.4 billion (+ 41%) while Ebitda is positive for 70 million. The passengers transported were around 15 million (+47%). Break even (breakeven between revenues and costs, ed) was achieved with a year ahead of schedule, the company communicates. Particularly low personnel costs compared to competitors, including the main low-cost ones, help. “These are extremely positive results,” said the president of Ita Airways, Antonino Turicchi. “The company has been able to develop on the economic side and on the financial sidethis was the fundamental key, despite not being able to benefit from the capital increase, and it allows this company to grow,” added Turicchi.
In the first quarter of this year, Ita Airways’ revenues “grew by 41% compared to the same period last year, with a load factor (filling of planes, ed) by 78%+5% compared to last year,” indicated the general director Andrea Benassi explaining that “Intercontinental flights are still driving”. The company is waiting to know the final verdict in Brussels on the ongoing operation with Lufthansa. The German company must take over 41% of the Italian oneimmediately assuming operational control and with the possibility of reaching 100% by 2026. Last Monday the EU Commission expressed its reservations regarding the risk of a reduction in competition and worsening of the service, asking the two companies for further waivers, in particular the assignment of slots (take-off and landing rights at airports) and routes.
“In the long term we have grown significantly but we have 15 routes and to say that 8 of these are problematic is an important number for us so we want to reduce this number”, said the president of ITA regarding the EU’s findings. “Through this operation no one is going to reduce planes, the routes are increasing, the number of planes increases and therefore we cannot understand why there is concern on the part of the regulator that this operation will go to to the detriment of the consumer, we have a strong motivational element in demonstrating this vision with the Commission”, adds Turicchi. On the question of slots the president of Ita states: “We are very open to discussion and when it comes to discussing it we will put a number of slots that we deem sufficient to address the concerns of the EU Commission”. “We don’t have a plan B because we strongly believe in plan A and the demonstration is in the results we are bringing forward. I strongly believe in this marriage,” Turicchi finally pointed out, warning that the EU’s final decision could be postponed to the end of June.
