Air India — flight delay and unprofessional behaviour

Address:

New Delhi, Delhi, 110052

This is regarding air india flight ai 9614 (Pnr - ycqvz) from jammu to indira gandhi international airport.
I booked the flight for myself and my husband on priority, on 3rd may 2018, as i had an important meeting in delhi, scheduled at 3.00 pm on 4th may 2018.
The flight was supposed to depart at 12.40 pm from jammu and was to reach igit at 2.25 pm
We even received multiple automated calls and messages from air india, confirming the flight time.
We reached the airport well in time, as i could not afford to miss the meeting and proceeded for check-in.
Our bording pass confirms the boarding time as 12 pm. But while waiting at the airport for the boarding to start, the monitor started flashing a delay in the flight by a good 2 hours. The estimated time of departure changed to 1.45 pm from 12.40 pm (A delay of 1 hour 5 mins, excluding the block/ boarding time!).
On contacting the senior air india personnel at the jammu airport, we simply got the response that air india just have an agreement with spicejet and their flight leaves at the same time, so we can take our refund!
This response while there were other flights (Vistara, goair) flying off.
We even called the air india customer care, recieved no help!
The customer care asked us to claim the flight delay compensation from the airport only, supposedly this being only way. But, the air india personnel at the airport refused and said all kinds of compensation happens at safdurganj office, delhi. Is this air india's way of misguiding and harassing the passenger's?

Who is liable to bear the cost of lost business to me because of the delay?
What response is this : you can take your ticket price back if you don't want to fly.
Who will bear the booking charges?
Who will bear the hotel charges at jammu?
And, why would we even book the ticket a few hours before the flight if it wasn't urgent to fly back.
What sense does it make to cancel the booking and take the money back when it is urgent for me to fly back?
What if the passenger cancels? Does he/ she get the refund? Why this partiality then? Passenger's mistake or air india's mistake, only the passenger has to bear the brunt.
Frankly air india team, you need to understand that you are running an airlines here, and people's lives and businesses and everything is at stake and you are liable for it all.
You are providing a service at a cost and it simply crumbles down if this is the kind of response coming. It is all simply a waste!
Today, because of air india, i lost possibly one of the biggest deals of my career and the company's response to it all is dismal. Air india should simply end the business as it is doing more harm than good.
Air india has to compensate us for all the monetary and other losses that we had to bear today.