India, like all other countries in the Asia Pacific region, has been impacted by high oil prices, global airlines' body IATA's Director General Willie Walsh said on Sunday.
Walsh, an aviation veteran who took over as the IATA DG in April 2021, will soon be helming India's largest airline, IndiGo.
With the Middle East disruptions, the International Air Transport Association (IATA) expects the average jet fuel prices to be 70 per cent higher year-on-year.
"That will add $100 billion to our collective fuel bill this year," Walsh said.
In response to a question from PTI at a briefing about the prospects for the Indian aviation market, Walsh said, "India, like all countries in the region, is impacted by the high oil prices. No part of the world is escaping the significant increase in oil prices".
Regarding speculations around jet fuel shortages, Walsh said the situation has been addressed, with refiners increasing their production of the jet fuel.
As per IATA, fuel costs are set to rise nearly 40 per cent to $350 billion this year from $252 billion in 2025.
08/06/2026 Manoj Rammohan/PTI/ET Infra
To Read the News in full at Source, Click the Headline
0 Post a Comment:
Post a Comment