scotron11
Posts: 1181
Joined: Tue Feb 10, 2004 4:54 pm

AZ: Another Strike, Another Loss!

Fri May 13, 2005 3:22 pm

AZ posted a loss of 134M euros ($170M) for the 1st quarter, down slightly from the same period last year. The airline said it has also exhausted a 400M euro bridge loan from the Italian government. AZ is waiting to hear from the EU regarding their planned recapitalization.

Separately, air traffic controllers will stage a 4 hour strike between 10am-2pm today and AZ has cancelled 211 flights, 97 domestic and 114 international.

Crazy way to run a business!