Air India deeper in the red – but government help on the way?

The National Aviation Company of India (NACIL), the fully government owned holding company covering the combined operations of Air India and Indian Airlines, has nearly doubled losses for the fiscal year ended 31-Mar-09 to some USD840 million from USD468 in the prior year. The company has borrowings approaching USD3.2 billion, much of which has been raised to fund the large-scale acquisition of aircraft.

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