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
EVA Air Launches Nonstop Flights Between Taipei and Washington D.C.
FAA Unveils Proposal to Streamline New Commercial Aircraft Certification
Breeze Airways Expands US Network: Three New Cities and 11 New Routes
American Airlines Retrofits Narrowbody Fleet: Increased Premium Density and Cabin Modernization for Airbus A319s and A320s
Plataforma Informativa de Aviación Comercial con 13 años de trayectoria.