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Published on : Saturday, May 28, 2016
SITA, the IT specialist that transforms air travel through technology, announced 2015 revenues of US$1.7 billion despite a year which saw continued global economic and geopolitical volatility as well as significant shifts in currency. The consolidated group revenue, based on constant currency rates, rose 3.2 percent from 2014 continuing the organization on its growth trajectory.
The results, confirmed at SITA’s Annual General Assembly (AGA), highlight the company’s continued solid business performance and growth. The revenues were enhanced by a sound cash balance, near zero debt and a strong SITA Group net margin which was 10 percent higher than the previous year. In addition, highly favorable customer feedback and loyalty scores and a strong result on the newly introduced Community Value Index is a testament to the focus SITA places on its community and customers.
Francesco Violante, CEO of SITA, said: “SITA continues to deliver strong performance due to our long-term strategic vision and investments made in recent years. This year we have made strides in key areas including portfolio developments, service excellence and our collaborative approach to innovation with our members and the wider air transport community. SITA continues to invest in our operations, service quality and our people, which together position us as a technology leader in the market.”
This is the final Air Transport IT Summit that Francesco will preside over as he is stepping down as SITA CEO on 1 July 2016. Dr. Omar Jefri, SITA Board Chair, said: “I wish to personally recognize and thank Francesco as CEO, on behalf of the SITA Board, for his outstanding leadership, contribution and commitment to the transformation of SITA over the last 10 years which has strengthened the company’s performance and standing in the industry considerably. Francesco will continue to lead the company until his departure and will ensure our joint interests remain the number one priority during the transition.” Barbara Dalibard, who was named CEO, will begin her role on 1 July.
Francesco Violante, CEO of SITA, said: “I am proud that within a decade, SITA has grown and evolved as a broad-based business solutions provider, and is well positioned for the next decade. As I hand over to Barbara in July, I am confident that SITA is on a strong footing for the years ahead and I wish Barbara and SITA a very successful future.”