SITA, the global leader in technology solutions for the air transport industry, has reported record results for 2023, with revenues reaching nearly US$ 1.5 billion.
This achievement, representing a 7% increase from the previous year, was announced at SITA’s Annual General Assembly in June.
CEO David Lavorel also highlighted significant growth in margins and EBITDA, surpassing plans by 4%.
“Every one of our customers and members benefits from our strong performance and growth,” Lavorel remarked.
“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’s record-breaking year was also marked by significant contracts and partnerships aimed at transforming travel experiences at airports and borders. These include biometric touchpoints for airline passengers at Frankfurt Airport, a digital travel and sustainability collaboration with the Arab Air Carriers Organization, and leading trials in Aruba using ICAO’s Digital Travel Credential (DTC) standard.
Additionally, SITA’s agreement with the Airports Authority of India (AAI) will introduce the latest passenger processing solutions and cloud-enablement to 44 airports across India, preparing the country for future passenger traffic growth. The launch of new services for the SITA Connect Go SD-WAN solution is another step toward making operations more efficient, with early adopters like Qatar Airways and Biman Bangladesh Airlines.
In the realm of aircraft operations, SITA’s collaborative IT solutions are making flights more efficient and sustainable. Airlines such as Azul, Singapore Airlines, AIX Connect, and Vistara have adopted SITA OptiFlight® to reduce fuel consumption and CO2 emissions through better flight path planning.
“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 added. “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.”
Continuing its focus on operational efficiencies and sustainability, SITA launched the SITA Total Airport Optimizer in 2024. This AI-powered platform helps airports manage all aspects of their operations, incorporating sustainability into operational decision-making through a partnership with Univers.
The momentum in 2024 continued with SITA’s acquisition of Materna IPS, a leader in passenger handling for airports and airlines, and the launch of SmartSea through an agreement with Columbia Shipmanagement. These moves are set to reshape aviation and the maritime industry, bringing advanced technology to new sectors.
SITA’s acquisition of ASISTIM further enhances its capabilities, offering airlines a managed service for flight operations control. “This is an exciting time for the travel industry,” Lavorel noted. “Major trends such as digitalization and sustainability will forever change the way we work. For 75 years, we’ve helped air transport step into the future. Now we’re positioned to help the wider travel and transport industries create ever more frictionless journey experiences, achieve operational efficiencies and resilience, and address sustainability requirements.”
