Patel to meet PM over higher fuel prices

New Delhi: With airlines facing mounting losses due to skyrocketing fuel prices, Civil Aviation Minister Praful Patel would meet Prime Minister Manmohan Singh tomorrow to find ways to prevent the crisis, which is taking a toll on the aviation industry.
The civil aviation industry has faced a staggering loss of Rs 4,000 crore in 2007-08 and this could double in the current fiscal depending on the fuel prices, according to industry estimates.
Patel, who has expressed serious concern over the health of the industry, is joined by industry leaders, Jet Airways Chairman Naresh Goyal and Kingfisher Airlines' Vijay Mallya, in raising concerns over the "crisis" situation, which industry experts feel could see some airlines going bust, like in the early 1990s. Fearing such a situation, Patel has said, he would raise the concerns expressed by the airline industry. He is likely to make a presentation to the Prime Minister and Finance Minister P Chidambaram about the difficulties being faced by the aviation industry.
Some airline chiefs are also expected to join the meeting tomorrow.
09/06/08 Press Trust of India/Business Standard

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Categories: Indian Aviation- In General Jun 2008