Air India board this week signed off on a loss of INR4.48 billion ($112.5 million) for the fiscal year ended March 31, a result reversed from a INR149.4 million profit in the prior year, according to widespread press reports from India. Revenue climbed 2.8% year-over-year to INR95.9 billion and the carrier struggled to fend off low-fare competition as its fuel bill rose a reported INR3.86 billion, or nearly 13%, and it was forced to pay INR4.25 billion in wage arrears. Dow Jones reported ...

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