Italy's flagship airline Alitalia says operating losses widened last year
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ROME  - Italy's flagship airline Alitalia said Monday that its operating loss narrowed in the fourth quarter but widened for all of last year amid higher oil prices and labour unrest.
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The airline reported a narrower-than-expected loss in the fourth quarter and its first full-year profit in three years as an increase in traffic helped compensate for rising fuel costs.
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Financially-strapped Italian airline Alitalia said Friday it would sharly cut back on flights from Milan-Malpensa airport in late March in order to reduce costs.
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Alitalia, Italy&#39;s largest airline, told its union Monday it plans to cut 5,000 jobs, or more than a quarter of its regular workforce, according to published reports.
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Alitalia said it expected its full-year net loss to widen from last year's 519.7 million euros (671 million dollars) due to 289 million euros in restructuring charges booked this year to relaunch the ailing airline.
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European aircraft maker Airbus suffered its first-ever operating loss in 2006 and was expected to make further losses this year, its parent group EADS reported on Friday.
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MILAN The Italian airline Alitalia, in a restatement Wednesday of its results for the first half of the year, almost doubled its previously reported loss to Â620 million as it set aside money to pay for a restructuring plan.
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Struggling Italian airliner Alitalia SpA reported a narrower operating loss for its third quarter on Thursday, noting that the improvement came despite higher fuel costs.
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BAE Systems Plc, Europe&#39;s largest defense company, said its first-half loss widened as it wrote down goodwill in its avionics and defense-electronics units.
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The government is considering extending unemployment benefits to the airline sector to help negotiations between the struggling flagship carrier Alitalia and labor unions, a top official said Thursday.
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Struggling carrier Alitalia said Thursday that revenues were below expectations in July and August as domestic market share fell to 45 percent from about 50 percent last year.
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Alitalia, Italy&#39;s largest airline, said it plans to cut 5,000 jobs, or about a quarter of its regular work force, and split into two companies to save $1.
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Struggling Italian carrier Alitalia said it lost euro620 million (US$767 million) in the first half of the year, almost double the airline&#39;s euro315 million (US$360 million) losses for the same period the previous year.
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Fiat SpA&#39;s overall net loss widened in the third quarter, and the company&#39;s key auto unit slightly narrowed its losses, the Italian automaker said Thursday.
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Struggling national Italian airline Alitalia cancelled 67 out of 267 flights after a four hour strike by some of its staff, the company said in a statement.
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The price of shares in Italian airline Alitalia slumped by 3.42 percent to 0.192 euros in early trading in Milan, following a warning from the board that it faced a financial crisis.
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Italian airline Alitalia made a net loss of 620 million euros in the first half of 2004, the group announced after a board meeting.