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National carrier Air India has announced that it incurred a loss of Rs 5,548 crore in 2008-09 due to global economic slowdown but hoped to post better operating performance this year.

   Total revenue fell to Rs 13,479 crore in FY 2009 from Rs 15,252 crore in FY 2008, the airline said in a statement. However, last year’s financial performance was better than the previous year’s when Air India suffered a net loss of Rs 7200 crore. The Air India board met in Chennai to approve the annual accounts.

   The unlisted company said it had taken a series of measures to enhance revenue and reduce costs in the past one year. These measures together with the pick up in demand in the domestic and international traffic are likely to result in improvement in the operating performance for the year 2009-10, subject to fuel prices remaining stable, the company said.
   The pilots have threatened to go on strike from November 24 after Air India proposed to slash incentives and allowances for them.

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