ITA Airways has released its latest financial results for the first half of 2024, showcasing a marked improvement compared to the previous year. Alongside this positive news, the Italian flag carrier is set to reintroduce the iconic Alitalia brand in a limited capacity in the coming months.

The announcement was made during a special event held at ITA Airways' new offices in Milan on September 27, 2024. The event was attended by key figures including 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.

During the first half of 2024, ITA Airways reported revenues of €1.4 billion ($1.54bn), marking a significant increase of €300 million ($333m) compared to the same period in 2023. The airline's Earnings before interest, taxation, depreciation, and amortization (EBITDA) reached €62 million ($68.2m), an improvement of €130 million ($144.3m) year-on-year. Additionally, cash reserves reached €393 million ($436.23), reflecting a €31 million increase from June 30, 2023.

Operational performance also exhibited a positive trend, with an average load factor of 79% for the first six months of 2024, a 2% increase from the same period in 2023. The airline successfully transported over 8.3 million passengers during this time, showing a 26% growth compared to the first half of 2023 and generating 33% higher revenues.

Outside of financial results, ITA Airways revealed plans to revamp and expand its lounge at Milan Linate Airport (LIN) to accommodate up to 400 passengers per day.

Excitingly, the airline executives disclosed that by the end of 2024, ITA Airways will incorporate elements paying homage to Italy's rich aviation history into its visual identity, inspired by the Alitalia brand. The statement emphasized that the Alitalia brand remains a valuable asset for ITA Airways and will be strategically integrated into various customer touchpoints.

Chairman Antonino Turicchi expressed optimism about the company's progress, stating, “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."

The decision to reintegrate the Alitalia brand, despite its past challenges, has sparked varied reactions. While some view it as a pivotal move to reinforce Italy's aviation legacy, others question its revival following the previous brand replacement due to issues of corruption and mismanagement.

Ultimately, only time will reveal whether this step signifies a shift towards phasing out the ITA Airways brand in favor of a wider return to the Alitalia name. Stay tuned to Pilotcenter.net News for the latest developments in the aviation industry.