ITA Airways leads the group of the "Big Five" Italian airlines, while Neos boasts the highest profit margin per passenger; Air Dolomiti ranks second in air ticket sales, while SkyAlps recorded another year of financial losses. This is the scenario revealed by a survey by the newspaper "Corriere della Sera" on the five Italian flag carriers.
It was a record year for ITA Airways which, with a fleet of 109 aircraft and 16.6 million passengers carried, confirmed its position as the largest airline in the country. ITA also reported revenue of €3 billion and a profit of €209 million, which equates to approximately €5,300 per flight and €12.60 per passenger. These results were achieved despite twenty aircraft being grounded due to engine problems — a setback that likely cost the company more than €100 million.
However, Neos — part of the Alpitour Group — outperformed all others in terms of revenue, recording a turnover of €865 million, an average load factor of 85% and a profit of around €6,600 per flight (or €20 per passenger). Air Dolomiti, another Lufthansa Group company, ranked second in passenger volume with its fleet of 29 aircraft, carrying 4.46 million passengers in 2025.Its revenue margin, however, was modest, falling to just €2.30 per customer.
Aeroitalia also showed positive results, proving its ability to operate Sardinia's "territorial continuity" routes. With 2.92 million passengers embarked in 2025, the company recorded revenue of €287 million and profit of €2.57 million.
This record-breaking year did not extend, however, to Italy's fifth-largest airline, SkyAlps (based in South Tyrol); the company ends 2025 with a new loss of approximately €20 million — which is equivalent to more than €110 per passenger carried. These losses are in addition to the 2023 deficit (€4.65 million) and the approximately €10 million lost during its first two years of operation. Consequently, from the start of its operations in 2021 until December 31 last year, the airline consumed almost €34 million.
