International flagship carrier Air India announced its results for the financial year ended 2009-10. It has reported net loss at Rs 5,550 crore as against Rs 7,189 crore.

Operating loss declined to Rs 3,472 crore from loss of Rs 5,672 crore. Depreciation costs increased to Rs 1,390 crore from Rs 1,226 crore.

For the quarter ended April-September FY11, its earning before interest, tax, depreciation and amortisation (EBITDA) grew 6% (YoY).

Air India said FY10 earnings were muted on high depreciation and debt cost. "We filled 64.8% seats in FY10 as against 59.5%," company said.

Meanwhile, Air India's board has decided to dispense with the services of Pawan Arora—the chief operating officer of Air India Express. The decision comes after the four independent directors and government nominees on the Air India board voiced their displeasure on the appointments made at a high cost for the national carrier.

The board has set up a committee to decide on the fate of the training chief S Sukumar, which will submit its report within 15 days.