Air India expected to report a loss of USD1.18 billion for FY2009/10

Indian Minister for Civil Aviation, Praful Patel, reportedly stated Air India parent, National Aviation Company of India Ltd (Nacil) is expected to report a loss of USD1.18 billion (INR54 billion) for the 12 months ending 31-Mar-2010 (Dow Jones, 03-Mar-2010). The carrier has reported losses of USD1.6 billion (INR72 billion) in the past two fiscal years. Indian Government also reportedly announced Cabinet plans to meet shortly to discuss Air India's proposal to increase working capital by USD219.5 million (INR10 billion) to USD4 billion (INR180 billion).