Tuesday, February 14, 2017

Pay more to fly!

MUMBAI: India’s delicately balanced current account wouldn’t be the only major casualty of costlier crude oil: Local travelers now have to pay more to fly within the country as expensive jet fuel propels airlines to raise domestic fares that had tracked global energy prices to plunge to record lows last year.
Higher consumer fares in January reflect the persistent rise in aviation-fuel prices, which increased 8% on-month in November at the New Delhi airport, the country’s busiest. After a brief lull in December, prices firmed in January and February, breaching the levels of 2015 when the cycle of declines began.
The trend has led carriers to pass additional fuel costs on to consumers, many of whom switched to airlines after the gap between air and upper-class train fares narrowed in 2016. A senior executive at Jet Airways, India’s second-biggest airline by market share, said the airline has recently revived the practice of levying a fuel surcharge — a fare component linked to movements in jet fuel prices — on domestic flights.
14/02/17 The Kashmir Monitor
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