Loss-making Aria asks Dutch owner for fresh cash injection

8 Oct 2013

Italian WiMAX operator Aria reportedly posted a net loss of EUR23.4 million (USD31.8 million) in the twelve months ended 31 December 2012, compared to a net loss of EUR17.6 million in 2011. According to Telecompaper the continued losses were in spite of improved revenues, which increased from EUR6.4 million to EUR12.4 million year-on-year. As such, president Riccardo Ruggiero has turned to its controlling shareholder Netherlands-based Aria Telecom Holding for a new cash injection of around EUR36 million, on top of the EUR10 million already committed in 2013, and EUR34 million invested in 2012.

In operational terms, Aria’s user base grew from 47,600 to 79,600 in 2012, going on to reach 87,900 in April this year (most recent data). Further, the number of WiMAX base stations grew from 440 to 757 by end-2012.

Italy, Aria (now part of Tiscali)