Italy's Alitalia posts record losses in first half of 2020
Italy's flag carrier Alitalia suffered record losses in the first half of this year amid coronavirus travel restrictions and the global economic slowdown. However, the troubled company still outperformed many of its European rivals.
Alitalia on Tuesday reported a loss of 430 million euros (510 million U.S. dollars) for the first half of the year, compared to a 250-million-euro loss for the same period a year earlier. Over the same period, the company carried around 3.6 million passengers, down by nearly two-thirds year-on-year.
The company was hurt the most by coronavirus travel restrictions which were in place between early March and early June. Worries about the pandemic and weak economic growth across the world have weighed on the company's balance sheets, even after travel restrictions were lifted in June.