ITA Airways Embarks on a Sustainable Journey with First Owned Aircraft Purchase
ITA Airways has achieved a significant milestone in its growth trajectory by finalizing an €80 million financing deal for the acquisition of its first owned aircraft, the Airbus A330-900. This strategic move, backed by Castlelake, a seasoned player in the aviation investment sector, marks a pivotal step towards the airline's commitment to sustainability and expansion.
The Airbus A330-900 stands out for its eco-friendly credentials, boasting a 25% reduction in fuel consumption and CO2 emissions per seat compared to older generation aircraft. This investment not only aligns with ITA Airways' environmental goals but also enhances its operational efficiency.
Adding to the financial robustness of ITA Airways, the transaction complements a €90 million loan from Italian banks, supported by a SACE guarantee. This collective financial backing is a testament to the airline's growing credibility and positive performance in 2023, laying a solid foundation for future development as outlined in its Industrial Plan.
Antonino Turicchi, Chairman of ITA Airways, expressed satisfaction with these achievements, emphasizing the strategic balance of equity and debt capital in line with the airline's vision. The successful access to financial instruments reflects the airline's improved standing among banks and investors, fueled by its commendable performance last year.
Looking ahead, ITA Airways is not resting on its laurels. The company has already initiated discussions for further asset-backed financing operations, aiming to cover up to 80% of the purchase value of new-generation aircraft. This direction is encouraged by the financial market's keen interest in eco-efficient aircraft, which promise lower fuel consumption, reduced operating costs, and lesser emissions.
By the conclusion of its 2023-2027 Strategic Plan, ITA Airways aspires to revolutionize its fleet, targeting a composition of 90% eco-friendly aircraft. This ambitious goal positions ITA Airways on a path to becoming Europe's greenest carrier, significantly reducing its carbon footprint and setting a new standard in environmental stewardship within the aviation industry.