New Delhi: Brace yourself for steep spot airfares this summer holiday season. Oil marketing companies have increased jet fuel prices by 1% for April. The hike comes at a time when the peak summer travel season is beginning amid sharp reduction in domestic airlines’ capacity due to grounding of large number of aircraft for different reasons.
After the 1% hike in aviation turbine fuel (ATF), a kilo litre (KL or 1,000 litres) will cost Rs 63,472.22 and Rs 63,447.54 in Delhi and Mumbai, respectively. Jet fuel prices had touched four-year high last November (Rs 76,378.8 per kl in Delhi for instance) and had been falling since then due to cooling of crude. But after February, they have been rising again.
The problem aggravated as Jet Airways lessors started grounding planes due to non-payment of rentals. Jet currently operates about 35 planes, out of its fleet of 119. The airline hopes to be operating 75 planes by end of this month if lessors agree.
The aviation ministry and DGCA have called several meetings with airlines to discuss the issue of high spot fares.
01/04/19 Saurrabh Sinha/Times of India
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After the 1% hike in aviation turbine fuel (ATF), a kilo litre (KL or 1,000 litres) will cost Rs 63,472.22 and Rs 63,447.54 in Delhi and Mumbai, respectively. Jet fuel prices had touched four-year high last November (Rs 76,378.8 per kl in Delhi for instance) and had been falling since then due to cooling of crude. But after February, they have been rising again.
The problem aggravated as Jet Airways lessors started grounding planes due to non-payment of rentals. Jet currently operates about 35 planes, out of its fleet of 119. The airline hopes to be operating 75 planes by end of this month if lessors agree.
The aviation ministry and DGCA have called several meetings with airlines to discuss the issue of high spot fares.
01/04/19 Saurrabh Sinha/Times of India
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