ITA Airways has posted its results for 2022 and it’s bleak. The newly entered carrier that took over following the collapse of Alitalia has posted a net loss of USD 600 million.
It also carried over 10 million passengers for the calendar year. This was ultimately also up from 2021 results.
ITA cites a complex operating environment and the consistent challenges of being a new company as reasons why losses were so significant. However, the financial results have raised concerns over the airline’s long-term performance and ambitions.
Right up until its eventual collapse, Alitalia was plagued with financial issues that impacted the service, operations and customer experience. It ultimately contributed to the downfall and reasoning for its closure. As a result, many have questioned ITA’s aspirations and their viability.
For ITA, 2023 is expected to be a pivotal year as they edge closer to an agreement with Lufthansa for them to take a stake in the company. Lufthansa’s minority stake in ITA should help it with all parties keen on the move.