ITA Airways closed the 2023 financial year with a net loss of five million euros, an improvement of 481 million euros compared to the previous year.
Total revenues amounted to 2.4 billion euros, while Ebitda was positive at 70 million euros.
Passenger numbers stood at around 15 million, up 47% in 2022.
"These are extremely positive results," said ITA Airwayspresident Antonino Turicchi.
"The company has managed to develop on the economic and on the financial side," he continued, adding: "This has been the fundamental key".
"Despite not being able to benefit from the capital increase, it has allowed this company to grow," said Turicchi, referring to the planned merger with German carrier Lufthansa agreed in May2023 but which has still not been signed off by the European antitrust authorities amid concerns over competition on routes.
On the proposed transaction for Lufthansa to take a 41% stake inITA against an investment of 325 million euros, Turicchi said there is no plan B.
"We do not have a plan B because we strongly believe in plan Aand the proof is in the results we are delivering. I believe strongly in this marriage," he said.
This "is not an operation to rescue ITA; rather, for the economyministry shareholder this is an operation to make ITAgrow", added Turicchi, adding: "this is what we want to emphasize to the European Commission".
"Consolidation is the tool for having stronger operators," he continued.
On the objections to the deal sent by the European Commission earlier this week, Turicchi said he couldn't understand the concerns.
"Through this operation no one is going to reduce flights, the routes are increasing, the flights are increasing and therefore we cannot understand why there is concern on the part of the regulator that this operation will be to the detriment of the consumer," he said.
"On long-haul routes we have grown significantly but we have 15 routes and to say that eight of them are problematic is big number for us, so we want to reduce this number," he added.
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