SITA reports record results

12.07.2024 - 16:10 / traveldailynews.com / Vicky Karantzavelou / David Lavorel

SITA announced 2023 record revenues of US$1.5 billion, a 7% increase, with growth in contracts, partnerships, and innovations focusing on digital and sustainable travel solutions.

GENEVA – SITA has announced record results for 2023 as revenues reached almost US$ 1.5 billion. This represents a rise of 7% on the prior year, with all signs so far in 2024 indicating similar positive performance this year. Unveiling the results at SITA’s Annual General Assembly in June, SITA CEO David Lavorel also cited growth in margin and EBITDA, which exceeded plans by 4%.

“Every one of our customers and members benefits from our strong performance and growth,” said Lavorel. “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. 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 also saw record contracts and partnerships to transform travel at airports and borders, through digital identities, biometric and mobile-enabled self-service, and digital borders. 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 addition, SITA’s agreement with the Airports Authority of India (AAI) will see the latest passenger processing solutions and cloud-enablement for 44 airports in India, preparing the country for a future of increasing growth in passenger traffic.

With the return of travel comes the need to make operations efficient. The launch of new services for the SITA Connect Go SD-WAN solution gives the industry the opportunity to achieve this goal, as a platform for industry digitalization. Qatar Airways and Biman Bangladesh Airlines became early customers, using the solution to help fuel growth.

In another major trend, collaborative IT for aircraft is helping to make flights more efficient and sustainable, using AI and data-driven operational tools. In 2023, airlines eagerly took on SITA OptiFlight to reduce fuel consumption and CO₂ emissions by better planning fight paths. They include Azul, Singapore Airlines, AIX Connect, Vistara, and many more. AI and flight optimization services are critical to help aviation’s journey to 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