Shares of airline operators advanced up to 6 per cent in Monday’s trade after the air turbine fuel (ATF) prices were reduced by 2.2 percentage points.
ATF prices are revised by oil marketing companies (OMCs) on the 1st and 16th of every month based on rates of benchmark international oil rates in the previous fortnight. The latest price cut marked the second reduction in rates this year. Prices had peaked at Rs 141,232.87 per kl (Rs 141.23 per litre) last month.
