Air India is mulling direct import of jet fuel as costs have soared by about 40% in the 11 months of the current financial year, denting the revenues of the debt-ridden carrier by Rs2,000 crore.
The airline is examining the idea of direct import of air turbine fuel as recently permitted by the government, to save the fuel costs, a senior Air India official said.
He said that increase in fuel costs has had a fall out on Air India's revenues as the air turbine fuel prices have increased by 20% in February alone.
This will dent our revenues by Rs2,000 crore, he said, adding that "on a cumulative basis, from April 2011 to February 2012, its fuel cost has gone up by 40%. If it was not for the fuel price we would have done far better."
13/03/12 Smita Aggarwal/Financial Express
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