SITA signs over $1 billion in new business for second straight year
SITA, the specialist provider of IT business solutions and communication services for the world’s air transport industry, today reported consolidated revenues of $1.42 billion for the year 2007 and that, for the second straight year, the company has again won over $1 billion in new business.
Paul Coby, SITA’s Chairman, said: "SITA had an outstanding year in 2007 and maintained its record of winning over $1 billion new business. This was driven by SITA’s successful re-organization into a single company with a strong global network. Around 42% of new business came from Communication Services and 56% from Application Services.
“Last year SITA reinforced its unique position as an industry-owned asset, operating at the heart of the Air Transport Community, along with SITA’s unique global reach and breadth of offerings. It is this dedication to our industry, the fact that we are owned and governed by our customers, and our specialist capabilities that distinguishes SITA from its competitors.”
Francesco Violante, SITA’s Chief Executive Officer, said: "In 2007, the SITA management team achieved, or over-achieved, on all their key performance indicators including: on-target revenues of $1.42 billion; a healthy pre-tax margin of US$59 million; record new business of $1.12 billion; significant cost savings to SITA members, including price reductions of more than $25 million for network customers, and over-achievement of customer satisfaction levels with 88% of customers saying they are satisfied or very satisfied.
“SITA was successful in signing over 3,000 contracts last year which has enabled the company to maintain strong revenue growth on the applications side of the business.”
Last year SITA issued 32.4 million e-tickets compared with 10.6 million the year before and boarded 112.5 million passengers, up 10.8% on the previous year. SITA has also maintained its position as a world leader in check-in solutions which were used by some 600 million passengers last year.
Violante added that the company is investing for future growth particularly through the creation last year of a world-class R&D facility, the SITA Lab, and continues to play an important role in the successful development of two exciting joint ventures, OnAir and CHAMP Cargosystems.
In December last year, Air France became the first airline in the world to offer an in-flight mobile phone service on international flights using the Mobile OnAir service, and CHAMP Cargosystems acquired SOFTAIR AG to strengthen its position as the leading provider of integrated solutions to the global supply chain market for air cargo.
SITA’s full annual report for 2007 is being released at its Annual General Assembly (AGA) which takes place in Brussels, June 18. Immediately following the AGA, the annual SITA and Airline Business Airline IT Trends Survey results will be shared with participants attending the 2008 Air Transport IT Summit.
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