IA pares net loss 20% to Rs 197 crore in 2002-03

 On the other hand, arch rivals Jet Airways incurred a loss of Rs 245.63 crore in the financial year 2002-3. The losses, disclosed to the Ministry of Civil Aviation, have mounted substantially from the Rs 13.38 crore in 2001-02.

 The annual accounts for 2002-03 were approved by the IA board of directors today. In an official statement, the airline attributed its reduction in loss to