Alitalia Files For Bankruptcy Protection

ROME (AP) — Italy’s national airline Alitalia says it has filed for bankruptcy protection, taking the first step in reshaping what has been a failing company.

Alitalia said in a statement Friday that its board had asked the government to appoint an administrator and had declared insolvency to a Rome court.

The airline has been losing almost $3 million a day — hurt by labor unrest, competition from budget airlines and high fuel prices. Its shares have been suspended from trading since June.