Wednesday, December 16, 2009
ATF prices cut
New Delhi: For the second time this month, state-run oil companies on Tuesday cut jet fuel prices to ease the burden on cash-strapped airlines. Aviation turbine fuel (ATF) prices in Delhi came down by Rs 649 or 1.6% to Rs 39,319 per kilolitre, effective Tuesday midnight, an official of nation’s largest oil firm Indian Oil Corp said. The move is thought to boost the aviation industry, which is battling the declining yields due to poor load factors. The airlines, however, are not immediately hiking fares against the backdrop of downward revision owing to the holiday season. Private carrier Jet airways that has secured 19.5% market share for November has said there will no fare hikes immediately. There is no news on fares hikes from national carrier Air India, low cost carriers SpiceJet and GoAir among others. Meanwhile, ATF prices in Delhi Mumbai were cut by Rs 473.55 to Rs 41,236.73 per kl, in Kolkata by Rs 460.02 per kl to Rs 48,220.93 and in Chennai by Rs 488.70 to Rs 44,037.74 per kl. Oil marketing companies revise jet fuel prices on the first and the 16th day of every month, based on the average global oil price in the previous fortnight. 16/12/09 Financial Express
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