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ITA Airways (2) is preparing for sale

Have your accounts in order to present yourself at your best at your wedding with Lufthansa

Having your accounts in order to present yourself at your best at the wedding with the Lufthansa company. This is the short-term objective of the national carrier ITA Airways. The company closed the 2023 fiscal year essentially at breakeven. Now, however, the company must do better to reach levels that will allow it to do great things together with the Lufthansa Group, considering that in 2027 the Germans want to take over 100% of ITA.

"ITA's Ebitdar margin was 6% in 2023, compared to 13% for the Lufthansa Group, 14% for Air France-KLM and 19% for the IAG Group. Unit costs are lower than those of traditional carriers, which indicates a problem with revenues", also because "it is very difficult to make profits with a fill rate of 78.6%", explains analyst Neil Glynn, interviewed by the Italian newspaper "Corriere della Sera".

In short, the balance sheet shows an ITA that still hides a bit of weakness due to the fact that the company is young and certainly too small in the panorama of the big players with which it competes. But it can and must do more, especially starting from operational profitability. The objective is also to improve performance: the punctuality of ITA flights in 2023 was approximately 72% while the companies of the Lufthansa galaxy have the objective of 85%.

On the same topic, see also the article published by AVIONEWS.

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AVIONEWS - World Aeronautical Press Agency