ITA Airways: sharply reduces its losses

(Boursier.com) — ITA Airways reduces its losses. The Italian company, whose proposed merger with Lufthansa worries the European Commission, has reduced its net loss to 5 million euros in 2023, compared to 486 ME a year earlier, according to a presentation to investors consulted by ‘Bloomberg’. Turnover reached €2.4 billion, compared to around €1.6 billion in 2022, thanks in particular to a jump in the number of passengers transported of almost 50% (14.8 million). Ebitda reached 70 ME. “These are extremely positive results,” said Antonino Turicchi, president of ITA Airways, quoted by the ‘Ansa’ agency. “The company has managed to grow economically and financially.”

Regarding Lufthansa’s plan to take a 41% stake in ITA against an investment of 325 million euros, Turicchi said there was no plan B. “We don’t have a plan B because we firmly believe in plan A and the proof is the results we get. I firmly believe in this marriage.”