Air India lost INR55.48 billion ($1.19 billion) in the fiscal year ended March 31, more than double the INR22.26 billion deficit suffered in the prior year, the carrier announced yesterday. Revenue dropped 11.6% to INR134.79 billion owing to "global recession, fall in load factors and passenger yields," AI said. Passenger numbers declined 21.6% to 10.4 million and load factor dropped 4.3 points to 59.5%. The airline is seeking some INR50 billion in cash and loans from the government ...

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