Alitalia is Still Losing Money

It’s been way too long since my last Alitalia post, hasn’t it? It’s actually been pretty quiet over there as the new management team tries to figure out how to make something of 09_01_13 Alitalia Still Worstnothing. There’s no question they still have a long way to go after posting their latest results.

For the first half of 2009, the new management team turned in a stellar $385 million loss. That’s right. By “stellar,” I mean “absolutely terrible.” That was 6 percent worse than predicted. But the good news is that $300 million of that loss came in the first quarter. That means they lost less than $100 million in Q2. Should we be congratulating them for that? Sheesh.

Load factors have been dreadful. In the first quarter, it was 51 percent but in the second quarter it rose to 65 percent. It’s amazing how good a number like 65 percent looks when it follows 51 percent. It’s still terrible.

The airline is expecting a 72 percent load factor this month, but that is still below where it should be. We’re talking about Italy in July – every tourist on earth is heading there as we speak and yet they can’t even fill three quarters of their seats? Yikes.

Oh Alitalia, how I’ve missed you.

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