ITA expects higher full-year revenue as it prepares to join Lufthansa group [Yahoo! Finance]
DEUTSCHE LUFTHANSA S/ADR (DLAKY)
NASDAQ:AMEX Investor Relations:
investor-relations.lufthansagroup.com/en.html
Company Research
Source: Yahoo! Finance
Earnings before interest, taxes, depreciation and amortisation (EBITDA) turned positive, at 62 million euros, and cash reserves edged up to 393 million euros. Revenue rose to 1.4 billion euros in the first half of the year on a 26% jump in passenger numbers to 8.3 million. "The cash allows the company to support the investment plan, which has more than doubled compared to the previous year," Turicchi told reporters in Milan. Germany's Lufthansa received the green light in July to take a 41% stake in ITA for 325 million euros, after a long negotiation with Brussels which involved ceding routes and slots to rivals to address competition concerns. Turicchi said the company was confident of closing the deal by the Nov. 4 deadline. The conditions attached to the EU's approval raised fears that ITA - which took to the air in 2021 replacing bankrupt Alitalia - may lose interest in investing in Milan's Linate airport to the benefit of Rome's Fiumicino airport. Talking at a news c
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