Jet fuel prices were hiked over 18 per cent — the steepest ever increase — after crude surged to a multi-year high.
Analysts said rising ATF prices amid the Russia-Ukraine conflict pose a serious threat to the recovery of the aviation sector.
The sixth straight hike this year led to prices soaring past the Rs 1-lakh-per-kilolitre mark for the first time ever.
Suprio Banerjee, vice-president and sector head, Icra said: “One major concern that continues to be a drag on the aviation sector is the ATF prices, which have seen a sharp increase…. mainly attributed to increase in crude oil prices.”
