ITA Airways disclosed today that its Board of Directors, in their session on March 26, 2024, ratified the provisional financial accounts for the year 2023, revealing a net deficit of 5 million euros. The summary of the financial highlights includes:
- Total revenue reached 2.4 billion euros
- EBITDA stood at a positive 70 million euros
- Cash reserves were reported at 450 million euros
- Net equity totaled 750 million euros
The airline has successfully achieved operational break-even a year ahead of the timeline projected in its Business Plan. This accomplishment is attributed to an impressive operational and sales performance, culminating in a net outcome surpassing expectations.
Throughout 2023, ITA Airways conducted approximately 124,000 regular flights and transported around 15 million passengers, marking a 47% increase from the previous year. This growth was supported by a resurgence in air travel in the latter half of the year and an expansion in its market share, especially within domestic routes.
The total revenue for 2023 amounted to €2.4 billion, showing a 58% increase from 2022. Passenger traffic revenue contributed €2.2 billion to this total, a 67% rise compared to the prior year.
These results reflect the dedicated efforts of ITA Airways staff, whose significant contributions have facilitated the airline’s evolution from a start-up phase to the expansion and stabilization of operations.
The initial months of 2024 have continued this positive momentum, with flight operations achieving a 99.9% regularity rate and an 88.9% punctuality rate. Additionally, a customer satisfaction index of 80.5% was recorded over two months, indicating high service satisfaction levels among passengers.
Looking ahead to 2024, ITA Airways is set to expand its fleet by adding more than 26 new aircraft. This will bring the total fleet count to 96 by year-end, including 22 wide-body and 74 narrow-body aircraft, with 67% being new generation planes.
For the summer season, the airline will offer services to 57 destinations: 16 domestic, 26 international, and 15 intercontinental. This includes new direct flights from its Rome Fiumicino hub to North America, Africa, and the Middle East. Notably, a direct flight to Chicago will commence in April, with additional routes to Toronto and Riyadh in May, and subsequent launches to Accra, Kuwait City, Dakar, and Jeddah through June to August. Additionally, during peak summer, ITA Airways will operate flights to 11 seasonal Mediterranean destinations, such as Greece, Spain, Croatia, and the Italian islands.
The post ITA Airways to Launch Direct Flights to Chicago, Toronto, and More as Part of Summer Expansion appeared first on Travel And Tour World.
Source link
