Ita: 2023 loss down to 5 million, revenue 2.4 billion. Turicchi: 'On Ita-Lufthansa we have no Plan B'

Ita Airways' accounts improved in 2023. The company ended the year with a net loss of EUR 5 million, an improvement of EUR 481 million compared to 2022. Total revenue amounted to EUR 2.4 billion while Ebitda was positive at EUR 70 million. Passengers carried were about 15 million (+47%). The break even was reached one year ahead of schedule. "These are extremely positive results," said Ita Airways President Antonino Turicchi at the press conference presenting the 2023 results.

Ita Airways as at 31 December 2023 shows a cash liquidity of EUR 450 million, up by EUR 26 million compared to 2022, and including the EUR 250 million capital increase by Mef.

'We do not have a plan B because we strongly believe in plan A and the proof is in the results we are delivering. I strongly believe in this marriage,' said Ita Airways president Antonino Turicchi, about the merger with Lufthansa, where Ita is a 'promised bride'. This 'is not an operation to rescue Ita, for the shareholder Mef this is an operation to make Ita grow,' explained the chairman, and 'this is what we want to stress to the European Commission. Consolidation is the tool to have stronger operators,' Turicchi concluded.

"Through this operation no one is going to reduce planes, the routes are increasing, the planes are increasing and therefore we cannot perceive why there is concern on the part of the regulator that this operation will be to the detriment of the consumer, we have a strong motivational element in demonstrating this view with the Commission". This was said by Ita Airways chairman Antonino Turicchi, regarding the EU's findings on the transaction with Lufthansa.