By Chris Isidore, CNNMoney.com senior writer
May 4, 2009.
NEW YORK (CNNMoney.com) -- Chrysler LLC expects to lose $4.7 billion this year and to continue to lose money for the next two years, according to a filing from one of the company's top financial advisors.
Robert Manzo, a financial advisor hired by Chrysler for help with the company's bankruptcy process, estimated in the filing that the company will have cash expenditures far greater than losses for the next few years. Chrysler is estimated to go through about $15.7 billion this year as part of its restructuring.
The company filed for bankruptcy Thursday as part of a deal with the federal government, unions, some lenders and Italian automaker Fiat to keep the company from being shut down.
The filing also discloses the company lost $16.8 billion in 2008,. That's about the same as what larger rival General Motors (GM, Fortune 500) lost in 2008, excluding special items, and worse than the $14.6 billion lost by Ford Motor Co. (F, Fortune 500) last year.
Manzo's filing forecasts that Chrysler will lose about $900 million in 2010 and another $300 million in 2011, before finally reporting a $100 million profit in 2011.
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