Alitalia confirmed today it is on track to become profitable by 2017, as it reduced its losses by €381 million in 2015 compared to the previous year.
This important result for 2015 comes as the airline announced its first full reporting year under a three-year turnaround Industrial Plan.
After posting total revenues of €3,312.4 million in 2015, Alitalia was able to report a net loss of €199.1 million for 2015, a significant improvement on the €580 million loss recorded in 2014.
This performance is in line with the targets set in its Industrial Plan.
Alitalia chairman Luca Cordero di Montezemolo said: “Reducing our losses is a first important step, together with the relentless commitment to improve our services, our fleet and our network with the opening of new strategic intercontinental routes.
“This has been made possible due to the determination and passion of Alitalia’s men and women to whom I want to extend my heartfelt thanks.
“Return to profitability in 2017 remains our goal.
“Today’s results show that Alitalia has become more efficient in controlling costs and is on track for profitability by 2017.
“All our efforts are focused on reaching that target.
“Few airlines have undergone such radical change as the new Alitalia. We are delivering on our promise to create a world class airline.”
During 2015, Alitalia met or exceeded a wide range of performance indicators, as it moved forward with its extensive restructuring programme.
The airline carried a total of 22.1 million passengers with a load factor of 76.2 per cent.
There was also a strong and growing contribution of €235.4 million from its codeshare partnerships. Its partnership with Etihad Airways has played a major role.
Since January 2015, Alitalia and Etihad Airways have shared more than 450,000 passengers between their networks, while more than 1.2 million passengers have been shared between Alitalia and Etihad Airways Partner airlines.
Alitalia continues to deepen its existing cooperation with airberlin to strengthen further air connections between Italy, and Germany, Austria, and Switzerland.
Customers benefit from up to 25 per cent more weekly non-stop flights from Italy.
The deeper cooperation with airberlin paves the way for enhanced competitiveness, and our common passengers are already benefitting from greater travel comfort, improved connections and a much more attractive route network.
The airline has also achieved significant synergies, operational efficiencies and cost reduction across all areas of the business as a result of increased scalability, systems integration, joint procurement, and the implementation of best practice with its partners.
The airline also started a major fleet upgrade, including new interiors and inflight Wi-Fi being rolled out across all 122 aircraft.
Its inflight product has been upgraded, with an enhanced service style to improve quality in all cabins.