Italy's national airline Alitalia today announced fourth quarter operating losses of €89m and said its full year 2004 operating loss was €402.5m.
The state controlled airline said its fourth-quarter operating loss before extraordinary items and taxes came in at €104m, up from last year's fourth quarter €150m loss.
Alitalia said it expected that to improve in 2005 when it sees a full-year operating loss of €100 million.
The airline wants to cut thousands of jobs and is struggling against the threat of bankruptcy in the face of increased competition from low-cost airlines and over-capacity in the European market.
