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Alitalia Group: Board of Directors October 31, 2013

31/10/2013

POSITIVE PROGRESS IN THE RECAPITALIZATION PROCESS

COLANINNO TO RESIGN AFTER INVESTMENT OF CAPITAL IS FINALIZED

OPERATING RESULTS (EBIT) FOR Q3 2013: +36 MILLION EURO;

PASSENGERS REVENUES IN FIRST NINE MONTHS: +3.9% INTERCONTINENTAL TRAFFIC; + 3.4% INTERNATIONAL TRAFFIC

INCREASED DESTINATIONS IN WINTER SEASON AND CONVENIENT SCHEDULE

AS A RESULT OF THE FIUMICINO REHUBBING PROJECT

IMPROVED OPERATING PERFORMANCE:

LOAD FACTOR: 79%; REGULARITY: 99.8%; ON-TIME PERFORMANCE: 85.6%

 

Rome , October 31, 2013 – The Board of Directors of Alitalia - Compagnia Aerea Italiana SpA, chaired by Roberto Colaninno , met today in Rome.   

The Board of Directors approved the operating results for the first nine months of 2013 (January 1 - September 30, 2013).

The Board also reviewed the 500 million euro financial plan backed by the shareholders.  Intesa Sanpaolo SpA (approx. 26 million euros), Atlantia S.p.A. (approx. 26 million euros) and Immsi S.p.A. (13 million euros) have agreed to finance the plan.

An additional 65 million euros have already been paid by Intesa Sanpaolo SpA and Unicredit S.p.A. from their commitment of 100 million euros. Poste Italiane SpA committed to 75 million euros payment, subject to management approval, to cover any unsubscribed options.

Members who have not yet agreed to the additional payment are carefully evaluating their contribution of the capital increase.

 

Q3 2013 RESULTS

The Board reviewed the Company’s industrial and operational results. The members expressed their confidence in the future and satisfaction with performance indicators positioning the Company as one of the top performing European carriers.   

• IMPROVED OPERATING PERFORMANCE

The flight regularity index - the number of flights operated on the total number of flights scheduled -  for first nine months of 2013 were maintained at the highest levels reaching 99.8% (+ 0.1 percentage points vs. 2012).

The punctuality of flights on arrival reached 85.6% (84.9% at June 30) placing Alitalia among the most punctual airlines in Europe.

 

• NEW WINTER SCHEDULE OFFERING MORE DESTINATIONS

The Alitalia Group (Alitalia and Air One Smart Carrier) new winter schedule, beginning October 28, 2013 and effective through March 29, 2014 will fly to 83 destinations (7 additional destinations compared to last winter). With more than 122 routes and 3,700 weekly flights, Alitalia will connect 22 destinations within Italy and 61 worldwide.

 

• REHUBBING: IMPROVED SCHEDULES AND OPERATIONAL EFFICIENCY

Alitalia just launched with the new winter schedule the “Re-Hubbing” of Alitalia’s flights at Fiumicino’s Leonardo da Vinci Airport with the dual goal of providing better service to customers and ensuring greater operational efficiency.

 

• YOUNGEST FLEET IN EUROPE

The Alitalia fleet is comprised of 140 aircraft, all new or reconfigured. The average aircraft age is seven years, considerably younger than the average fleet age of other European carriers.

  

INDUSTRIAL PERFORMANCE AND FINANCIAL GROUP IN 3Q

Third quarter results show significantly improved load factor reaching 79%.

Total revenue for this period reached 1,060 million euros, a decrease of 6% compared to the same period last year

The operating results (EBIT) for 3Q reached +36 million euros, compared to +50 million euros in the same quarter last year, while net results were +7 million euros compared to +27 million euros for the same period in 2012. The results were affected by a decrease in passenger traffic revenues.

The operating result (EBIT) for the nine months amounted to -162million euros, compared to -119 million euros in the same period last year. The EBIT includes non-recurring income of 39 million euros, a sharp decrease compared to the previous year, which amounted to 89 million euros. Excluding these non-recurring items, industrial EBIT in 2013 amounted to -201 million euros, an increase of 7 million euros over the previous year (-208 million euros).

As of September 30, the net financial indebtedness, which is equal to -813 million euros, is reduced compared to the net financial indebtedness of 851 million euros on June 30 2013, with a share of owned aircraft indebtedness equal to 575 million euros.

Revenues from passenger traffic in the nine months of 2013 are down slightly (-1.6%) compared to the same period of 2012, with a major change in the composition of revenues by geography: while Alitalia recorded a decrease in its revenues by 11.1% in the domestic market as a result of the economic national recession, revenues increased 3.4% in the international market and 3.9% in the intercontinental markets.

Chairman Roberto Colaninno announced: "After having finalized the recapitalization process, I will officially resign from my position, along with the entire Board of Directors, and will no longer seek any executive position within the Company”.