No, If you declare your status as AP and you have a valid AP (covering your return) you dont need any transit visa in any carrier. Especially not in Air India.
Interestingly German Embassy in Miami still maintains that AP is a valid document and a transit visa is not required. Of course they cannot help you out when you are stuck in Frankfurt.
I had a couple of friends who travelled recently thru Frankfurt in Lufthansa with AP and expired visa and they needed no transit visa, they just showed copies of AP and they were fine. So if people who have travelled thru Frankfurt recently without getting transit visa can post their experiences it would be greatly helpful.
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