Italy’s pension scheme for air transport navigators, pilots and flight attendants, Fondaereo, has reported a 6.4 per cent return for 2025.

As of 31 December 2025, the fund’s total assets reached approximately €450m.

The pension fund said its positive return was achieved in a “complex market environment”, as a result of “prudent and diversified management with a medium- to long-term focus”.

In addition, Fondaereo said that during 2025, its transition to its new investment architecture was completed.

Its Guaranteed Fund secured a return of 2.37 per cent, while the former Growth Fund (now 70 per cent equity – 30 per cent bond profile) achieved a return of 8.59 per cent. Meanwhile, the former Balanced Fund (now 30 per cent equity – 70 per cent bond profile) made a 3.91 per cent return.

In terms of the new specialised funds, active from 1 October 2025, the equity fund made 2.47 per cent and the bond fund 0.5 per cent, for the period October to December 2025.

In addition, Fondaereo’s membership increased from 11,013 to 11,451, with a net rise of 438 members, equivalent to an annual growth of 4 per cent.

Fondaereo president, Marco Granone, commented: “The 2025 results confirm the solidity of Fondaereo and the soundness of the renewal path undertaken by the fund in recent years.

“The growth in assets, the positive performance of returns and the increase in membership demonstrate the trust that workers in the sector place in supplementary pension provision and in our management.

He also described 2026 as an “important year” from a regulatory perspective, particularly with regard to pension benefits.

“Our commitment is to continue offering transparent and sustainable pension solutions, focused on protecting the future income of members and their families,” he said.

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