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Alitalia to Post Q3 Net Profit - Commissioner

Alitalia to Post Q3 Net Profit - Commissioner

2018 10 01

2018 10 01

By Alberto Sisto, Reuters

 

Alitalia returned to a net profit of EUR2 million (US$2.35 million) in the third quarter, Stefano Paleari, one of the commissioners managing the airline, said on Wednesday in a sign that the fortunes of the airline were slowly improving.

Once a symbol of Italy's post-war economic boom but recently in trouble due to low-cost carriers and high speed trains, Alitalia was put under special administration last year after workers rejected its latest rescue plan.

In the first nine months of the year, revenues at the airline rose 4.6 percent to EUR2.35 billion, while its EBITDA loss, excluding non recurring items, was reduced to a loss of EUR59 million from a loss of EUR246 million in the same period last year.

For the full year Alitalia is expected to post revenues of above EUR3 billion, Paleari added.

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