Fiat SpA says it lost a record €4.26 billion ($4.6 billion) in fiscal 2002. The company reportedly expects to secure €5 billion ($5.4 billion) over the next 18 months to put towards its financially beleaguered Fiat Auto SpA unit, €3 billion ($3.2 billion) of which it will generate immediately by canceling debts. The large loss resulted primarily from one-time items and the cost of restructuring Fiat Auto. To raise funds, Fiat is expected to sell its aviation arm, Fiat Avio, and Toro ...
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