The very young ITA Airways, born from the ashes of Alitalia at the end of 2021, is already in the red. The airline suffered a net loss of €486 million in 2022, due to the lingering effects of the Covid-19 pandemic and rising kerosene prices.
The public company registered a turnover of 1,570 million euros and transported 10.1 million passengers, according to a press release published on Tuesday night.
These results are “in line with the start-up phase of the company in a still weak market environment during the first months” of 2022 “due to the persistence of the pandemic,” the group comments.
Rising fuel costs in the wake of Russia’s invasion of Ukraine and currency effects also weighed on the results, he said.
A “clear improvement” in 2023 promises the company
By 2023, the company expects “continued significant growth in revenue volume” through the expansion of its network and fleet, which should result in a “significant improvement” in operating revenue.
The young company initially serves 64 destinations, including ten intercontinental ones, but seeks to strengthen its position in the long haul.
Roma and Lufthansa had opened exclusive negotiations in late January over the German airline giant’s acquisition of a minority stake in ITA Airways.
According to the Italian press, Lufthansa is aiming for a 40% stake, valued between 250 and 300 million euros.
Exclusive negotiations are expected to last a maximum of 60 business days, that is, until April 24, but a preliminary agreement must be reached before this period.
Source: BFM TV
