Rome

Alitalia still losing money but expect improvements in 2014

President of carrier says new financial plan means 2016 profits

Alitalia still losing money but expect improvements in 2014

Rome, July 3 - Air carrier Alitalia is still losing money but expects to turn things around next year, the company's president said Wednesday. Alitalia "will lose money this year, but the plan we are presenting today is so logical and simple," that it will turn the company's financial situation around within three years, said President Roberto Colaninno. The new financial plan will help restore some balance by next year and a provides for a profit by Alitalia in 2016, he said. But it also requires Alitalia to increase its borrowing by about 250 million euros as it implements its new business plans, said its new chief executive, Gabriele Del Torchio. "I want to be very clear and transparent: we need financing," he told reporters at the presentation of the 2013-2016 plan. The plan places particular emphasis on boosting international and intercontinental traffic, and making its home airport at Rome's Fiumicino more attractive for other carriers and travellers.

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