Alitalia’s Third-Quarter Net Loss Narrows

Alitalia reported a narrower third-quarter pre-tax loss than in the same period last year and said it had enough liquidity to stay in business for at least the next 12 months if it sells non-strategic assets.

Alitalia, still on the hunt for a buyer after a failed auction for the Italian government’s controlling stake in the airline, posted a pre-tax loss of €58 million, an improvement of almost €9 million year-on-year.

In a statement, the airline said industrial disputes in the period cost it an estimated €32 million in sales. Fuel costs fell by around €22 million to €281 million due to the euro’s rise against the dollar.

Operating revenues rose by about 1 percent to €1.267 billion in the period and operating loss came in at €19 million, an improvement of about €23 million year-on-year.

Barring any unexpected eventualities arising from the airline’s survival plan, “it is foreseen that liquidity, supported by the magnetization of assets not considered strategic, will remain at levels sufficient to guarantee the continuation of the company for at least 12 months,” the statement said.