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SITA Achieves Record Revenue for 2023, Anticipates Further Growth in 2024

Our Bureau - : Jul 10, 2024 - : 2:13 am

SITA has reported a record revenue of nearly US$ 1.5 billion for 2023, marking a 7% increase from the previous year. The outlook for 2024 remains positive, as revealed during SITA’s Annual General Assembly in June. CEO David Lavorel highlighted growth in margin and EBITDA, which surpassed projections by 4%.

“Every one of our customers and members benefits from our strong performance and growth. It means we can self-fund our portfolio evolutions and explore further innovation opportunities. This is vital as we address the big trends now facing travel and take on new technologies to shape our industry’s future,” Lavorel stated.

Lavorel added, “Our portfolio developments and innovations are preparing the industry for the years ahead, delivering seamless and touchless journeys, operational efficiency, resilience and agility, sustainability, and more.”

SITA has also secured record contracts and partnerships to revolutionise travel at airports and borders through digital identities, biometric and mobile-enabled self-service, and digital borders. Notable examples include biometric touchpoints for airline passengers at Frankfurt Airport, a digital travel and sustainability collaboration with the Arab Air Carriers Organization, and continued world-leading trials in Aruba using ICAO’s Digital Travel Credential (DTC) standard.

In collaboration with the Airports Authority of India (AAI), SITA will introduce the latest passenger processing solutions and cloud-enablement at 44 airports across India, preparing for increased passenger traffic.

With the resurgence of travel, efficiency in operations has become paramount. The introduction of new services for the SITA Connect Go SD-WAN solution offers the industry a pathway to digitalisation. Early adopters include Qatar Airways and Biman Bangladesh Airlines, who are leveraging the solution to support growth.

Another major trend is collaborative IT for aircraft, which enhances flight efficiency and sustainability using AI and data-driven tools. In 2023, airlines such as Azul, Singapore Airlines, AIX Connect, and Vistara adopted SITA OptiFlight to reduce fuel consumption and CO2 emissions through better flight path planning. AI and flight optimisation services are essential for aviation’s progress towards a carbon net-zero future.

“We’ve significantly over-achieved the first-year goals of our business plan to grow SITA. As a result, we entered 2024 with a strong tailwind,” Lavorel continued. “With 75 successful years behind us, we’re looking to the future of travel. Our mission is to prepare our customers to deliver the ultimate travel and transport experience, with the most advanced, efficient, and sustainable technologies.”

In 2024, SITA launched the SITA Total Airport Optimizer, an AI-powered platform that assists airports in managing their operations comprehensively. Through a partnership with Univers, this solution integrates sustainability into operational decision-making, allowing airports to monitor and report energy usage, emissions, and their carbon footprint.

SITA’s momentum continued in 2024 with the acquisition of Materna IPS, a leader in passenger handling for airports and airlines and the Self Bag-Drop market. This acquisition aims to create the world’s most powerful passenger portfolio for airports and digital travel.

Following this, SITA introduced SmartSea through an agreement with Columbia Shipmanagement, a world-class ship manager and maritime service provider. SmartSea aims to transform the maritime industry by offering advanced technology similar to that revolutionising air transport. This launch is part of SITA’s expansion into cruise, rail, and Urban Air Mobility, such as Vertiports.

Soon after, SITA acquired ASISTIM, known for its managed airline flight operations services. This acquisition enables airlines of all sizes to outsource parts of their flight operations through a fully-fledged airline flight Operations Control Center (OCC) managed service.

“This is an exciting time for the travel industry,” Lavorel added. “Major trends such as digitalisation and sustainability will uproot the way we work, forever. For 75 years we’ve helped air transport step into the future. Now we’re positioned to help the wider travel and transport industries to create ever more frictionless journey experiences, achieve operational efficiencies and resilience, and address sustainability requirements.”

SITA is an IT provider for the air transport industry, offering solutions for airlines, airports, aircraft, and governments. Its technology supports more efficient, safe, and sustainable air travel.

With approximately 2,500 customers, SITA’s solutions enhance operational efficiencies at over 1,000 airports and support the connected aircraft for over 18,000 aircraft globally. SITA also provides technology solutions to help more than 70 governments balance secure borders with seamless travel. Its communications network spans the globe, facilitating 45% of the air transport community’s data exchange.


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