Airline chief quits after announcing heavy losses

Alitalia’s chief executive Andrea Ragnetti has suddenly stepped down from the struggling Italian airline, handing control over to its chairman and controlling shareholder Roberto Colaninno.

The airline claimed Ragnetti had resigned from his position by mutual agreement, said the Financial Times.

Alitalia made a net loss of €280 million in 2012, compared with a loss of €69 million the previous year.