ITA Airways posts 486 mln euro net loss in 2022
ITA Airways on Tuesday posted a 2022 loss of around E486m due to lingering effects of the pandemic and rising fuel costs, despite strong revenues of E1.58b. 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. Higher fuel costs due to the Ukraine conflict and a negative forex dynamic also weighed on last year’s performance, it added. ITA reported revenue of E90m in 2021. 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. <br/>
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ITA Airways posts 486 mln euro net loss in 2022
ITA Airways on Tuesday posted a 2022 loss of around E486m due to lingering effects of the pandemic and rising fuel costs, despite strong revenues of E1.58b. 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. Higher fuel costs due to the Ukraine conflict and a negative forex dynamic also weighed on last year’s performance, it added. ITA reported revenue of E90m in 2021. 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. <br/>
