ITA Airways on Tuesday reports a 2022 loss of around 486 million euros ($526.97 million) due to lingering effects of the pandemic and rising fuel costs, despite strong revenues of 1.58 billion euros.
The Italian state-owned carrier, which officially replaced money-losing Alitalia in 2021, said in a statement the results were “consistent with the company’s ‘start-up’ phase” in a market that remained weak in the first few months of the year due to the pandemic.
→ ITA Airways to increase flights between Italy and Brazil
Higher fuel costs due to the Ukraine conflict and a negative forex dynamic also weighed on last year’s performance, it added.
Germany’s Lufthansa is negotiating with the Italian government to acquire 40% of the airline, potentially followed by the remaining stake later.
ITA forecast significant revenue growth and improvement in operating results this year, as its expanding fleet flies to more destinations.
Related Topics
Allegiant Air Expands Its Presence in Florida with Seven New Nonstop Routes
JetBlue and United Receive Green Light for “Blue Sky” Alliance
Agreement Between U.S. and EU Preserves Tariff-Free Trade in Aeronautical Industry
Spirit Airlines to Reduce Workforce: 270 Pilots Will Furlough, 140 Demoted

Plataforma Informativa de Aviación Comercial con 13 años de trayectoria.