ITA Airways Remains Positive after H1 2024 Results

ITA Airways (AZ) presented its financial statements for the first six months of 2024: despite some negative results due to the euro-dollar exchange rate, the Italian national airline ended the first half of the current year on a positive note. 

In the first half of 2024, the company operated 66,700 flights, translating into 137,200 flight hours. The total number of passengers carried was 8.3 million: 26% more than the previous year. These statistics are promising for AZ, who saw a 33 % increase in passenger revenues. Regarding operational performance, the load factor rose by 2 points up to 79%, and a punctuality rate reached a 78.1%.

These positive trends are supported by an increase in the number of aircraft in the fleet, which allowed the flag carrier to achieve larger cargo capacity. In 2024, ITA Airways introduced 27 new planes into service, and four more units will be delivered by the end of the year.

In addition, ITA added a significant number of destinations to its route map, including Chicago, Toronto, Accra, Dakar and Jeddah. During the winter season, flights will also begin to Dubai, Bangkok and Male.

Lufthansa to Complete the Takeover

Another key step for the company marking the conclusion of 2024 is the finalization of the stake acquisition by Lufthansa (LH). This deal, which will affect a 41% of the Italian flag carrier, will go through the European Commission and expects to be finalized in November.

Further positive data comes also from AZ's Frequent Flyer Program, VOLARE, which in the first half of 2024 concluded with 2.4 million members, enjoying success from a 64% of home members 36% of foreign customers.

Drifting away from finances; it has been announced that, at the end of 2024, the ITA Airways brand will be affixed with the words “Inspired by Alitalia”. This marketing strategy has the purpose to celebrate and market Alitalia, Italy's historic defunct flag carrier, whose operations ceased on October 15, 2021, concluding a landmark chapter in Italian commercial aviation. 

Bringing the Alitalia brand back to life means for ITA Airways to become an ambassador of "Made in Italy" in the world, nostalgically remembering the past and to take an example for the future, bringing to light the decades-long know-how of an internationally famous airline recognized for its high level of hospitality.

To further understand the transition from Alitalia to ITA in 2021, check out our special Deep Dive on the Airways Magazine YouTube channel.