SpiceJet CMD calls for 10-15% increase in airfares amid ATF price hike, rupee slide

The sharp increase in aviation turbine fuel (ATF) prices and the depreciation of the rupee have left the domestic airlines with no choice but to immediately raise airfares, said Ajay Singh, Chairman and Managing Director, SpiceJet NSE -2.68 %, on Thursday. A minimum 10-15 per cent increase in air fares is required to ensure that cost of operations are better sustained, Singh said in a statement.