Ita Airways, accounts boom in 2023: revenues at 2.4 billion (+67%)
Ita Airways it ended 2023 with a break-even operating budget, and even achieved long-haul profits, recording a record of over 15 million passengers (+50% compared to 2022). The financial solidity is 450 million (+30 million compared to 2022), with a turnover of 2.4 billion (+67%). President Antonino Turicchi underlines with satisfaction that the company no longer generates financial losses for Italians, highlighting this result as a sign of discontinuity compared to the past.
The turning point, which occurred two years after the launch of the company born from the ashes of Alitaliais attributable to the growth of international flights, the recovery of market shares and the successful management of competition in the airline sector. Turkish makes it clear that the approval for the merger with Lufthansa would have represented the icing on the cake, but underlines that Ita can continue on its own, as demonstrated by the positive results of the year just ended and the ongoing fleet modernization process.
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However, it is clear that the autonomous plan could only be sustainable in the short term, as the investments needed for new planes, green fuels e network development require significant resources. Turicchi underlines that only Lufthansa can guarantee synergies, economic revenues and an international network.
The failure of the alliance to contribute SkyTeamcon Delta e Air France who have cut ties with Ita with a view to joining Star Alliance, had a negative impact on the accounts. However, Turkish and the general manager Andrea Benassi they do not quantify the damages. The situation will also be addressed at European level, since l’Antitrust is examining not only the situation in Milan, but also the routes to North America. Ita expects a clarification from Brussels and continues to collaborate.
Ita takes advantage of rising airfares and a growing market to maintain its standalone plan in the near term. The fleet modernization plan will continue in 2024, with the aim of serving new long-haul destinations such as Chicago, Toronto, Riyadh, Jeddah, Accra and Kuwait. The 2025 Jubilee with the Fiumicino hub is seen as a significant opportunity. The future of the brand Alitalia is still in the study phase, with the possibility of valorisation and possible integration with Air Dolomiti. There are no problems regarding the disputes of former Alitalia employees, with only two cases out of 48 that have been in favor of the judges.