New Delhi: With distressed carrier Jet Airways seeking to clear at least part of the dues to aircraft leasing firms and pay salary arrears to pilots with the emergency finance raised from state run banks, air fares which have firmed up in recent weeks are set to stabilise.
Jet restoring part of it’s fleet and SpiceJet leasing some of Jet’s grounded planes will address airline industry’s recent capacity reduction at a time summer travel requirement is on the rise. Domestic carriers served 23.8 million passengers in the January-February period of 2019, more than 7% the number of passengers travelled by air in the same period a year ago. Nine out of eleven carriers for which data is available with air safety regulator the Directorate General of Civil Aviation (DGCA), have reported an increase in seats sold in February compared to January.
