Jet grounded, international fares take to the sky

MUMBAI: The slump in international capacity created by the grounding of Jet AirwaysNSE -3.32 % has led to a steep rise in overseas airfares, said executives at airlines and travel companies.

Flights to destinations such as London, New York and Toronto have seen the biggest increase. For instance, fares on the Mumbai-New York route rose as much as 157% between March and June, according to data compiled by travel portal Cleartrip.