Brace for higher airfares as jet fuel prices rise
Indian travellers will have to pay more to fly this year as record-high jet fuel prices and a weaker rupee force domestic carriers to hike airfares.
“The sharp increase in jet fuel prices and the depreciation of the rupee have left domestic airlines with little choice but to immediately raise fares and we believe that a minimum 10-15% increase in fares is required to ensure that cost of operations are better sustained,” SpiceJet Chairman and Managing Director Ajay Singh warned on Thursday.
The comments came as aviation turbine fuel (ATF) prices were steeply increased by nearly Rs 20,000 per kilolitre to Rs 1,41,232 per kilolitre.
