ITA Airways posts positive results, unveils a revitalization of Alitalia brand

Italian flag carrier ITA Airways has issued its latest financial results for the first half of 2024 which show an improved year-on-year position. At the same time, the Rome-based airline would be bringing back the iconic if not rather tarnished Alitalia brand to a limited degree over the coming months. 

The announcement was made at an event held at the company’s new offices in Milan on September 27, 2024, attended by Antonino Turicchi, the Chairman of ITA Airways, Andrea Benassi, the General Director, Claudio Faggiani, Chief Financial Officer, and Emiliana Limosani, the carrier’s Chief Commercial Officer.  

Presenting the Italian airline’s results for the first half of 2024 ending June 30, 2024. During the period, the company reported revenues of €1.4 billion ($1.54bn) representing an increase of €300 million ($333m) over the same period in 2023. Earnings before interest, taxation, depreciation, and amortization (EBITDA) reached €62 million ($68.2m), an improvement of €130 million ($144.3m) over the same period in 2023. Cash reserves reached €393 million ($436.23) which was a €31 million increase over June 30, 2023.  

The positive trend seen by the airline has also been reflected in its operational performance throughout the first six months of 2024, with an average load factor of 79%, representing an increase of 2% points over the first half of 2023. During the period, ITA Airways transported more than 8.3 million passengers, a figure that represents a 26% improvement over the first half of 2023 which generated 33% higher revenues compared to 2023. In the first six months of the year, a completion rate of 99.84% and a punctuality rate of 78.1% were also recorded. 

Away from the finances, the company announced plans to renovate and expand its lounge at Milan Linate Airport (LIN), increasing its capacity to accommodate up to 400 passengers per day.  

Markus Mainka / ShutterstockComing as a surprise to some, the airline executives also revealed that by the end of 2024, ITA Airways’ visual identity will be “enriched with a historic element that pays tribute to both the country and aviation heritage.” The airline plans to roll out its “inspired by Alitalia” branding at “select touchpoints” over the customer experience over the coming months.     

In a statement issued by the carrier ITA Airways says that the Alitalia brand remains “an important asset owned by ITA Airways and is being enhanced through a concrete and ambitious project.” 

Beginning towards the end of 2024, the ITA Airways logo will be complemented by the Alitalia logo at those strategic touchpoints. “Alitalia, with its pioneering excellence in air transport and its role as an extraordinary ambassador of Made in Italy around the world, has inspired ITA Airways’ values,” the statement added.  

The statement said that ITA Airways will continue to uphold its own distinct identity, which was established in October 2021, as part of the process.  

Davide Calabresi / Shutterstock“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. Finally, we proudly presented the project to enhance the Alitalia brand, which will complement our identity as ITA Airways to reinforce its values of excellence in air transport, which are recognized worldwide”. 

While some observers will welcome the return of the Alitalia brand, seeing the name as an integral thread of commercial aviation in Italy, others will question its revitalization. The previous brand was dropped in favor of the name ITA Airways when the new carrier was incorporated three years ago. Reasons given at the time cited alleged corruption, mismanagement, and poor operational performance which had tarnished the Alitalia brand over many years rendering it synonymous with corporate failure and incompetence.  

That said, many Italians (as well as the wider travel industry) have found it hard to fully adopt the ITA Airways brand and it has struggled to find a strong foothold in the global airline industry. Therefore, bringing the Alitalia brand back (to any degree) may help the airline further enhance its presence and recognition on the international stage. Only time will tell whether the move is part of a wide strategy to wind down the ITA Airways brand and bring back the Alitalia name on a more widespread scale.  

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