Alitalia Group (AZ) reported a 2011 net loss of €69 million ($92.9 million), a 58.9% improvement from an €168 million deficit in 2010. Operating loss was reduced from €106 million to €6 million “with a negative margin of 0.17% on revenues, in line with the operating breakeven objective,” the company said in a statement.
Revenue increased 7.9% to €3.48 billion on a 5.5% rise in passengers carried to 25 million, of which 1.4 million flew with its low-cost carrier Air One Smart Carrier (AP). International and intercontinental revenue from increased 7.2% and accounted for 62% of total passenger revenue.
The group said that effective capacity management, cost-cutting measures and the development of ancillary revenue helped to successfully mitigate fourth-quarter challenges that included rising fuel prices, falling demand in Japan and North Africa, and dropping yield. Load factor gained 0.8 points to 72.8%.
The group added 13 new aircraft during the year and phased out 12, bringing its fleet at year end to 152 with an average age of 8.3 years. It will phase out 16 older aircraft this year and raise the rate of new aircraft deliveries to at least 20, including five Airbus A330s to support its intercontinental expansion. It will also revamp the cabins of 10 Boeing 777s.
AZ warned that prospects for the air transport sector for 2012 remain challenging and said the industry is likely to undergo a further fall of profits “mainly due to a slowdown in volumes growth, a fall in high yield demand and higher fuel costs. The Eurozone is particularly exposed to such factors as a consequence of the expected GDP fall in the area,” it stated.
Separately, the company confirmed that Andrea Ragnetti will replace outgoing Rocco Sabelli as CEO, effective March 5. Ragnetti is a former executive of Royal Philips Electronics.
Article Source : ATW Daily News
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