While LPG price was raised by Rs 18, kerosene saw a hike of Rs 3 per litre
Any government aid to the airline will ultimately hurt the economy
Though the civil aviation sector accounts for only two per cent of the global carbon emission, the industry has conducted sufficient research on the usage of alternative fuels, from the prospective of both environment and cost.
The research could have implications for airlines, passengers, and airports.
The decision was taken after Prime Minister Narendra Modi announced that the lockdown across the country will be extended till May 3 to fight the coronavirus pandemic.
Air India on Thursday increased the fuel surcharge component in fares on several routes.
In a major relief to cash-strapped airlines, jet fuel (ATF) prices were today reduced by a massive 5 per cent, the steepest reduction in rates since February 2010.
DGCA said there are 13 aircraft in the airline's fleet in which both the PW engines have been used for more than 3,000 hours.
State-owned oil companies on Tuesday slashed jet fuel prices by over 3 per cent as an appreciating rupee made imports cheaper.
Aviation Turbine Fuel, or ATF, price at Delhi was cut by Rs 3,025.34 per kilolitre, or 4 per cent, to Rs 71,800.21 per kl, according to Indian Oil Corp, the nation's largest fuel retailer.
Commerce Minister Kamal Nath on Friday announced that jet fuel supplies to long-distance flights of international carriers would be treated as exports.
The civil aviation ministry is hopeful of further reduction in the price of aviation turbine fuel this year.
The price of non-subsidised LPG, which customers buy after using up their quota of 12 subsidised cylinders, was raised by Rs 16.50 per 14.2-kg cylinder, the first hike in six months.
Turning down Civil Aviation Minister Praful Patel's plea for a fare cut, full service carrier Kingfisher Airlines on Monday said that at present there was no case for reducing air fare.Other airlines like SpiceJet and IndiGo also said that after the recent round of cuts in fuel surcharge, customers should not expect further benefits in the short term, though there would be some advance purchase packages in January.
Jet has pulled out flights from Northeast states and also cancelled its Srinagar flight, leading to reduction in capacity.
'Investors should be careful in getting carried away; although a reversal of IPO frenzy this time is taking longer than in the past.'
International oil prices retreated from an over seven-year high but was still above $100 a barrel and continue to pose threat to India's inflation rate and current account deficit. While there are no supply concerns as the oil route remained open, consumers will feel the pinch when PSU oil firms start passing on the increase in international rates through a revision in petrol and diesel prices, which have been on a pause for over three-and-a-half-months in view of elections in Uttar Pradesh and four other states. The government is "closely monitoring the situation" and will "take appropriate steps as and when required", a top official said. Brent crude oil surged past $105 per barrel on Thursday for the first time since August 2014, following Russia's invasion of Ukraine.
Not only do you need an effective and independent regulator, you also need competition to flourish.
Airlines have been conducting fuel efficiency analysis, which involves fuel calculations on a daily basis, based on the availability of optimum routes in terms of wind, flight levels and overflying charges, route rationalisation to prune the number of flights and increase utilisation. They also want the Centre to grant ATF a declared goods status, which would result in a uniform levy of 4 per cent sales tax at the state level.
AirAsia, which is a joint venture between Tata Sons Ltd, TelestraTradeplace currently flies from Bengaluru to Chennai, Kochi, Goa and vice versa.
The domestic passenger traffic in July 2021 was 51 lakh, ICRA said in a release. Domestic passenger traffic on a year-on-year basis, however, spiked around 131 per cent over August 2020 traffic of 28.3 lakh, it said. The ratings agency said despite the continued recovery in the previous month, there is continued stress on demand, driven largely by the second wave of the pandemic, limiting travel to only necessary travel.
For any airline to be eligible for restructuring, the current ratio has to be equal to or higher than 0.4, while 'debt to Ebitda' has to be equal to or less than 5.5.
State-run oil companies on Wednesday raised prices of aviation turbine fuel, or ATF, for the third time in a month, this time by about 6.7 per cent, in step with international rates, which are firming up.
Landing on an aircraft carrier deck is the ultimate and most daunting challenge for a fighter pilot. This takes India into a select group of nations -- the US, the UK, Russia, France, and China -- that have developed such jets.
Rates at different airports vary because of differential in local sales tax or value added tax.
The economy is gaining traction with gradual pick up in manufacturing activity and moderation in contraction of services, spurred by comfortable liquidity conditions, an RBI article on Tuesday said. Observing that the retreat of the second wave of coronavirus pandemic has been slow, the RBI in an article on the 'State of Economy' said, the aggregate demand conditions are buoyed by the release of pent-up demand post unlock, while the supply situation is improving with the monsoon catching up to its normal levels and sowing activity gaining pace. "Reaffirming the traction that the economy is gaining, the manufacturing activity is gradually turning around, while contraction in services has moderated.
Boeing 737 MAX planes were globally grounded in March 2019, after two of these crashed within five months, raising safety concerns.
'The levy proposed to be charged on air tickets for regional connectivity fund would marginally increase cost.'
The selection gives a boost to the US engine firm, which lost out to rival manufacturer CFM International for IndiGo's 280 aircraft engine order in June.
In Mumbai, jet fuel will cost Rs 72,830.64 per kl from tomorrow as against Rs 68,103.26 per kl at present.
Given its network and fleet, it has garnered the highest share of passenger growth.
However, the reduction in ATF prices will provide some cushion to airlines engaged in a protracted price war have lost control over pricing in one the world's most price sensitive domestic markets.
In a much-needed relief to cash-strapped airlines, this is the second straight monthly reduction in rates and the biggest single cut ever.
The final hearing in the case at the London magistrate's court to extradite Mallya to India is scheduled later this month.
Air Turbine Fuel cost in India constitutes nearly 40 per cent of the ticket cost against 25 per cent in other countries.
Serving pilots question the Kozhikode plane crash report findings.
The hike comes on back of two massive hikes effected on February 1 and 16.
Mumbai, Bengaluru, and Kochi airports have hiked their landing charges by up to 45 per cent, increasing the operating cost for airlines at a time they are facing financial constraints because of the two months of grounding and weak demand.
With jet fuel prices hiked by 2.5 per cent, Jet Airways on Friday increased fuel surcharge on its tickets by Rs 200 with effect from tomorrow, raising airfares.
Jet fuel constitutes roughly 40 per cent of the operating cost of an airline.
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