Air India lost $1 billion in last fiscal year

"Air India's parent company National Aviation Co of India (Nacil) is likely to report losses of 50 billion Indian rupees ($1.02 billion) for the financial year ending 31 March. Nacil also owes 5.99 billion Indian rupees to the Airports Authority of India and 5.42 billion Indian rupees to jet fuel companies, India's civil aviation minister Praful Patel told the country's upper house of parliament in a statement." Next.