With the prices of fuel rising by19 percent from Saturday midnight, India's airfares look set to goup, the Hindu newspaper reported Sunday.
India's public sector oil companies raised air turbine fuel (ATF) prices from 58,387 rupees (1,460 U.S. dollars) to 69,227 rupees (1,730 U.S. dollars) per kilo liter in Delhi, and from 60,468 rupees (1,512 U.S. dollars) to 71,759 rupees (1,794 U.S. dollars) in Mumbai, reflecting rising global crude prices. This is the fourth straight hike in ATF prices since February last year.
Airlines sources said high ATF cost would cause a major upset in their operations and cited examples of many international airlines curtailing their operations to keep costs down.
"Jet fuel prices have been on the rise globally over the past couple of months. All airlines will be under pressure to take steps to meet this situation," Air India's corporate communication head Jitender Bhargava said.
Sources said airlines would soon review the situation in the wake of the high ATF prices and take a decision over upward revision of fuel surcharge and domestic and international fares.
The airlines will announce the fare hikes - expected to be about 600 rupees, or 15 U.S. dollars on longer routes like Delhi-Mumbai, and a little less for shorter flights in a day or two, the report said.
Source: Xinhua
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