Alitalia posted a record net loss of €812 million ($1.02 billion) in 2004 against a net loss of €519.7 million in 2003, owing primarily to €308.6 million in restructuring charges. Operating loss widened to €412.4 million from €384.15 million as revenue fell 5.8% to €4.07 billion, with passenger traffic down 1.4% on the prior year. Based on Friday's closing share price of 25.5 euro cents, the group's net loss equaled about 85% of its market capitalization ...

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