NEW DELHI: With Jet AirwaysNSE -26.49 % staring at shutdown due to financial problems, air fares in the country are rising due to reduced capacity in the aviation sector.
Aviation secretary P S Kharola said: “DGCA is monitoring fares on 40 sectors. Ten sectors have witnessed 10-30% hike in fares. The regulator has asked airlines to stabilise fares on a priority.” He added that at least 10 more aircraft will be inducted by other airlines in a month. Many airlines are in talks with lessors of Jet’s repossessed planes. “Almost 90% of Jet slots are unused at the moment and they are being allotted to others temporarily,” top aviation bureaucrat said.
