I repeat, there's no loss (5)

I believe the answer is:

again

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'i repeat there's no loss' is the definition.
I can't tell whether this defines the answer.

'i repeat there's no' is the wordplay.
'i' becomes 'a'.
'repeat there' becomes 'gai' (I can't explain this - if you can you should give a lot more credence to this answer).
'no' becomes 'n' (common abbreviation).
'a'+'gai'+'n'='AGAIN'

Can you help me to learn more?

(Other definitions for again that I've seen before include "Anew" , "Here we go ___" , "Ocne more" , "return" , "On the other hand" .)

I've seen this clue in the Evening Standard.

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