ITA Airways has posted its financial results for the first half of the year, reporting revenues of €1.4bn. It marks an increase of around €300 million compared to the first half of 2023.
The Italian flag carrier and Lufthansa Group airline swung to a positive EBITDA of €62 million, up €130 million from the first half 2023. It said it held cash reserves of €393 million as of June 30, 2024.
The airline's load factor climbed two percentage points, compared to last year, to 79%. It carried 8.3 million passengers throughout the period, up 26% over the first six months of 2023.
The results were presented at its new Milan offices for media.
"The figures from the half-year report approved today confirm the growth process already underway since last year, with results better than the first six months of 2023," said Antonino Turicchi, chairman of ITA Airways. "We are also pleased to have inaugurated our new offices in Milan, which highlight the great importance the company places on the city and Linate Airport, where we will renovate our lounge next year."
The company said the new lounge will increase the capacity to up to 400 passengers per day.
In addition, the company said it will be "enhancing the Alitalia brand" by the end of the year. Alitalia, an asset owned by ITA Airways, ceased operations in 2021 and was ITA's predecessor. The ITA Airways logo will be complemented by the Alitalia logo.