New Delhi: Average airfares in India soared after the nation joined others in grounding Boeing Co.’s 737 Max jets, shrinking capacity in the world’s fastest-growing aviation market, where carriers have traditionally lured first-time flyers with ultra-cheap fares.
Average fares on 14 main routes jumped more than 65% on Thursday, compared with a year ago, data from online travel agent Yatra.com showed. In contrast, fares on average were up just about 30% on 12 February , when India was yet to decide on grounding the Boeing jets, the data showed.
Tickets from the technology hub of Bengaluru to the financial capital of Mumbai — a distance of just over 500 miles — were selling for ₹12,748 ($180) on Thursday, compared with ₹8,643 two days ago, according to Yatra.
