ITA Airways announces that the Board of Directors, in its meeting on March 24, approved the Consolidated Financial Statements Project for the 2025 financial year, whose key results are set out below:

Revenues: €3.2 billion (of which €2.8 billion from passenger revenue);

EBITDA: €404 million;

EBIT: €25 million;

Net result: €209 million.

The Company has thus achieved, for the first time in its short history, a positive net result of € 209 million (an improvement of €436 million compared with 2024), and for the second consecutive year a positive EBIT of €25 million (an increase of €22 million compared with 2024).

These results were achieved thanks to the consolidation of the work carried out by the entire Company, as well as the contribution of the initial phase of synergies realised with the Lufthansa Group, in a complex year due to various factors such as:

i) a challenging geopolitical context;

ii) the impact of the remedies resulting from the European Commission’s decision approving Lufthansa’s acquisition of a stake in the Company;

iii) critical issues relating to the availability of short and medium haul aircraft, which wereprogressively grounded to carry out necessary maintenance work on Pratt & Whitney engines;

iv) the absence of commercial support from a partner carrier on routes between Italy and the United States, the Company’s primary international market.

At the same time, unlike in 2024, the results were influenced by the positive effects of the accounting adjustment of debts and credits denominated in foreign currency (primarily US dollars) to year-end exchange rates.However, the financial costs associated with the lease agreements relating to the fleet modernization and expansion plan remain high, meaning that the operating result is not yet fully sustainable; the Company will continue to work on this to achieve a stable profitability.

Overall, the company’s total revenue in 2025 stood at €3.2 billion, in line with the previous year, of which €2.8 billion came from the passenger traffic business (+2.7% compared with 2024).This growth is also reflected in the EBITDA result, which improved by €67 million compared with the previous year. The cash flow result was also positive, at € 639 million, an increase of €163million compared with the end of 2023.

ITA Airways operated over 123,000 scheduled flights during the year (down 11% on 2024) andcarried 16.2 million passengers (down 8% on 2024), with a load factor of 83.4%, up 2.1 percentagepoints year-on-year.

Its fleet continued to grow in 2025. Ten new aircraft joined the fleet; with thesimultaneous withdrawal of three older-generation aircraft, this brought the total fleet to 106 aircraft by the end of the year (24 wide-body and 82 narrow-body), 70% of which were new-generation aircraft, with an overall average age of 6.5 years.

“2025 marked a turning point for ITA Airways: we have posted a profit for the first time,confirming that we are on the right track”, said Joerg Eberhart, Chief Executive Officer and General Manager of ITA Airways. “This is the result of the commitment of the entire company and the first tangible effects of our industrial partnership with the Lufthansa Group. “However, we knowthat to achieve fully sustainable profitability, we must reduce the burden of fleet leasing costs; weare already working resolutely on this”.

“Today we are celebrating another historic milestone for the company. The approved results confirm the soundness of ITA Airways’ trajectory and the value of the collaboration between its shareholders”, comments Sandro Pappalardo, Chairman of ITA Airways. “The Company continues to play a central role in the country’s connectivity, with a strategy based on quality, sustainability and innovation. This cooperation is crucial to building a modern and competitiveairline, for the benefit of the country as a whole”.