Alitalia losses deepen to €280 million; CEO steps down

Alitalia reported a 2012 net loss of €280 million ($370 million), worsened from a loss of €69 million in 2011.

As the results were announced, CEO Andrea Ragnetti submitted his resignation. According to a company statement, Alitalia and Ragnetti “have mutually agreed to terminate their relationship. Mr. Ragnetti resigned from the board and as chief executive officer of Alitalia and Air One as well as managing director of Alitalia,” it said. Ragnetti was named CEO last March.

http://atwonline.com/airline-finance-data/news/alitalia-losses-deepen-280-million-ceo-steps-down-0226