Air India losses more than $1 bn

Troubled national carrier Air India has reported a net loss of 55.5 bn rupees ($1.2 bn; £719 m) for the full-year to the end of March. The loss was due largely to a 12 % drop in revenue, from 152.5 bn rupees to 134.8 bn rupees, as a result of falling passenger numbers. Last month, the Indian government agreed to inject 53 bn rupees into the carrier to help keep it in business. Global airlines are struggling with falling traffic during the downturn. The International Air Transport Association (Iata) has forecast losses of $11 bn across the whole industry for 2009. Air India has been told by the Indian government to cut costs dramatically as a condition of receiving the state aid. This could prove difficult, as hundreds of pilots threatened to strike in September to protest against the airline's plans to cut pay incentives. The strikes were called off after the government intervened.