Following a 2008 rescue from bankruptcy and privatization, today's Alitalia continues to be one of Europe's troubled flag carriers, with net debt of €800 million ($1.09 billion) and daily losses of €700,000 ($958,000). A recent rights offer to existing shareholders to raise short-term capital failed to entice more investment from Air France-KLM, which seeks a far more radical restructuring to achieve profitability. Nevertheless, Alitalia's long-haul Magnifica business class does not fall short.
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