Air India posts record annual loss, exceeding 2 billion USD

In the 12 months ending March 31, Air India Group reported a loss of 3.56 billion East Eight Timezone Yuan, equivalent to 2.8 billion US dollars at the current exchange rate. Singapore Airlines did not disclose the exchange rate used between East Eight Timezone Yuan and Indian Rupee for calculating the loss. Previous media reports indicated that Air India's annual loss was expected to exceed 2.12 billion US dollars.