The chief executive of Italian airline Alitalia quit after only a year in the job yesterday as the struggling company reported a net loss of €280 million in 2012.
Alitalia, 25 per cent owned by Air France-KLM, said demand for air travel had suffered last year because of the financial crisis in the euro zone and recession in Italy.
Chief executive Andrea Ragnetti had left the company by mutual agreement, the company said. A former marketing executive with Telecom Italia and Philips, he joined Alitalia in February 2012 and took on the role in March.
Pending the appointment of a new chief executive, chairman Roberto Colaninno has been given additional powers, Alitalia said.
Shareholders on Friday approved plans to lend the company up to €150 million. - (Reuters)