Air India clocks record annual loss of over $2 billion in threat to turnaround plans

Air India Group clocked a record loss of more than $2 billion in Fiscal 2026, according to shareholder Singapore Airlines’ annual report, as India’s second-largest airline grappled with disruption from the Iran war and Pakistan’s ban on Indian carriers from its airspace.

In the report released on Thursday, Singapore Airlines, which owns a 25% stake in Air India, said the Indian airline’s loss amounted to 3.56 billion Singapore dollars, or $2.80 billion at current exchange rates, for the fiscal ended 31 March.