aviation: Ita Airways is deep in the red



The airline Ita Airways has to close the year 2022 with a net loss of around 486 million euros. Sales are reported at 1.6 billion euros. Meanwhile, the negotiations with Lufthansa, which is interested in buying, are in a hot phase.

Ita Airways operated around 97,000 scheduled flights last year. About 10.1 million passengers were on board. Since the carrier only started in autumn 2021, 2022 was the first full year of operation. In this respect, there is no comparative data.

Operations were hampered by the pandemic for the first few months, and results were « significantly impacted » by the subsequent rise in fuel costs and the outbreak of the Russo-Ukrainian conflict. For 2023, Ita Airways expects « further significant growth » to be achieved through a fleet expansion that will allow the airline to fly to more destinations.

Lufthansa and the Italian government are currently negotiating a forty percent stake in Ita Airways. Kranich CEO Carsten Spohr is also traveling to Rome. Local media speculate that Lufthansa does not want to put more than 200 million euros on the table. The offer is thus well below the price expectations of the government.

The article Ita Airways is deep in the red appeared first on Aviation.Direct.

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