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!