Air India's parent, the National Aviation Company of India, is targeting to cut costs by 15 billion rupees (S$325 million), says civil aviation minister Praful Patel.

The struggling carrier will also work to increase revenue by 12 billion rupees, he adds.

Air India posted a net loss of 56 billion rupees ($1.2 billion) for the fiscal year ending 31 March 2009.

The Government is looking at all options to help the carrier, says Patel.

Source: Air Transport Intelligence news