Aviation ind revives plea to give ATF declared goods status

The new government will take charge at a time when the aviation industry is faced with extreme challenges. India's top airlines Air India, Jet Airways and Kingfisher together owe various banks and oil marketing companies a whooping sum of USD 8.5 billion. To mitigate their troubles, airlines are reiterating their demand for aviation turbine fuel or ATF to be given declared goods status.
India's top airlines Air India, Jet Airways and Kingfisher together owe various banks and oil marketing companies a whooping sum of USD 8.5 billion. To mitigate their troubles, airlines are reiterating their demand for aviation turbine fuel or ATF to be given declared goods status.
Ajay Singh, Director, SpiceJet said, “The cost of ATF has always been an important issue. To give declared goods status to ATF, which is the single largest input for the aviation sector, will ensure there is reasonable taxation on fuel and equalize the cost of fuel across the country.
The Industry also has a longstanding demand of easing FDI norms in the sector.
Kapil Kaul, CEO of Centre For Asia Pacific Aviation said "The new administration should take the long awaited step of permitting foreign airlines to take a strategic investment of up to 49% in Indian carriers. It is imperative that the airline industry be turned around to a position of viability."
20/05/09 Neha Pandey/CNBC-TV18/Moneycontrol.com

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Categories: Indian Aviation- In General May 2009