Air India Asks Tata, Singapore Air for Funds After $2.4 Billion Loss

Air India Ltd. racked up a wider-than-expected annual loss of more than 220 billion rupees ($2.4 billion), prompting the company to seek financial aid from its shareholders, according to people familiar with the situation.

The loss for the fiscal year ended March 31 — a period punctuated by the deadly crash of a Boeing Co. 787 Dreamliner, the closure of Pakistani airspace to Indian carriers and the Middle East conflict — is larger than $1.6 billion internal company loss estimate reported by Bloomberg News in January.