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27.02.2012 12:48
Alitalia's Board of Directors approves the Group financial statement for 2011
Operating result at -6 ml. € is in line with the target

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The Board of Directors of Alitalia - Compagnia Aerea Italiana S.p.A. met today in Rome, chaired by Roberto Colaninno, and approved the Group financial statement for 2011. In the financial year ended on 31 December 2011, the Alitalia Group recorded revenues worth 3,478 million € (+7.9%) and 25 million transported passengers (+5.5%). Load factor grew 0.8 points to 72.8%.

Operating result (EBIT) was equal to -6 ml. €, up 100 ml. € from 2010, with a margin of - 0.17% on revenues, in line with the operating breakeven objective. Net result, after provisions and extraordinary costs, was equal to -69 million €, up 99 million € from 2010. Passenger revenues from international and intercontinental flights rose 7.2%, to 62% of total passenger revenues.

Growth - recorded in passengers, revenues, EBIT and net result - was achieved in a period marked by: an oil price rise (110 dollars per barrel in 2011 against 83 dollars per barrel in 2010) which caused for Alitalia higher costs to the tune of 266 million €; the events occurred in two key markets for Alitalia - Japan and North Africa – which resulted in a sharp fall in demand from these regions; the economic and financial crises, which pushed significantly down high yield demand from the corporate segment, starting from the forth quarter.

Over the year, the Alitalia fleet saw the entry of 13 new aircraft (against the phasing out of 12 old aircraft) of which 3 wide body aircraft. As on 31 December, the operating fleet was made up by 152 aircraft (among the youngest in Europe with an average lifetime of 8.3 years). In the period 2009 to 2011, a total of 34 aircraft were phased in, nearly one per month, and 26 were phased out. For 2012, the fleet renewal plan will be marked by speedier deliveries of long-haul and short- to-medium-haul aircraft, with at least 20 new entrants, of which 5 Airbus A330s for intercontinental routes.

TAGS: Alitalia | financial | statement | target | aircraft | line | company | passenger 

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