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Alitalia 'on road to recovery'
Tuesday, August 04, 2009 Bosses at rejuvenated Italian carrier Alitalia said the airline was on the road to recovery when it released financial results for its first six months in operation. The airline was losing up to €1 million a day before it merged with fellow Italian carrier, Air One, and sold a 25% share to Air France-KLM in January. Roberto Colaninno, chairman of the airline’s board of directors, confirmed at a meeting in Rome that the airline had hit predicted targets from January 13 to June 30. Total revenues topped €1,3 billion, more than 10 million passengers flew with the airline and average passengers loads reached 59%. The directors said it was a great achievement given the present global economic climate, the decrease in European business travel and inherent administrative challenges faced when merging two airlines. The board expected to reach 72% average passenger loads by the end of July, though figures were still being calculated. Colaninno said: “The results for the first six although slightly lower than forecast, are actually better than expected, considering the actual critical scenario which has affected the aviation sector on a global scale.” He said the airline expected to break even for the first time when it reaches it third year of operations.
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