Public sector oil firms have cut aviation turbine fuel (jet fuel) prices by up to Rs 745 per kilolitre or 1.85 per cent in wake of falling international prices.\n
Air India group announces fuel surcharges on domestic and international flights due to rising Aviation Turbine Fuel (ATF) prices, following the government's decision to cap domestic ATF price hikes.
The Indian government has imposed a new windfall gains tax of Rs 3 per litre on petrol exports, while simultaneously reducing the levy on diesel to Rs 16.5 per litre and aviation turbine fuel (ATF) to Rs 16 per litre, effective May 16.
The Indian government has increased the export duty, or windfall tax, on diesel to Rs 55.5 per litre and on aviation fuel (ATF) to Rs 42 a litre, effective immediately, to boost domestic availability and prevent exporters from exploiting global price differences.
Civil Aviation Minister K Rammohan Naidu announced that public sector oil marketing companies will implement a partial and staggered increase in jet fuel prices for domestic airlines, aiming to protect passengers from steep fare hikes.
Aviation Turbine Fuel (ATF) prices have more than doubled to a record high, impacting airlines and consumers, while commercial LPG rates also see a significant increase.
Indian carriers have cancelled over 10,000 flights since the onset of the West Asia conflict, as escalating tensions and airspace restrictions disrupted international operations, a senior government official said.
India has significantly reduced Aviation Turbine Fuel (ATF) prices for international airlines by 27% due to easing global fuel benchmarks, while simultaneously increasing commercial LPG and 5-kg cylinder prices to record highs.
Nayara Energy, India's largest private fuel retailer, has reduced petrol prices by Rs 5 per litre and diesel by Rs 3 per litre nationwide, marking the first such cut in over two years. This reduction follows easing tensions in West Asia and stabilised international crude oil prices, though public sector retailers have not yet followed suit.
Air India and Air India Express are introducing a fuel surcharge on domestic and international flights due to rising jet fuel prices, impacting travel costs for passengers.
Akasa Air, despite facing headwinds from the West Asia conflict and rising aviation turbine fuel prices, expects to maintain a 30-40 per cent growth trajectory over the next five years and aims for an initial public offering (IPO) within two to four years, according to CFO Ankur Goel.
Nath's comments came amid the Congress party's continuous attack on Centre for the recent hike in commercial LPG cylinders and the Aviation Turbine Fuel (ATF).
Air India has deferred annual salary increments for its staff by at least one quarter and urged a "relentless focus on costs" due to external headwinds like the closure of Pakistan airspace, West Asia conflict, rupee depreciation, and a significant surge in aviation turbine fuel prices, though the airline has assured there will be no layoffs.
Ahmedabad's Chief Fire Officer, Amit Dongre, reflected on the Air India flight AI-171 crash a year ago, describing the 10-hour rescue operation as the most challenging in his 22-year career, despite the tragic loss of 260 lives.
The support will be provided to oil-marketing companies (OMCs) in the form of interest-free advances through the ministry of petroleum and natural gas. The OMCs, in turn, will use the fund to provide ATF price stabilisation support to Indian carriers operating domestic and international flights.
India's aviation sector is facing fresh turbulence, with rising fuel costs, the Ministry of Civil Aviation's free-seat directive, and geopolitical disruptions in West Asia clouding near-term earnings visibility.
'The Aravalli engine will power HAL's upcoming 13-tonne Indian Multi-Role Helicopter and its naval variant, the Deck-Based Multi-Role Helicopter.'
The Indian government has increased measures to secure fuel and gas supplies following the Strait of Hormuz closure, urging citizens to avoid panic buying. Refineries are operating at high capacity, and sufficient stocks of petrol and diesel are available nationwide.
State oil firms on Wednesday raised jet fuel (aviation turbine fuel) price by 5 per cent in line with the spike in international oil prices, which have touched a record $71 US a barrel.
Corporate leaders' half-life has shrunk over the past few decades. That is the Tata experience as well. Over 144 years till 2012, Tata Sons had just five chairmen. However, in the 15 years till 2027, the same group will see three, points out R Gopalakrishnan.
InterGlobe Aviation (IndiGo) is experiencing significant financial pressure, with its stock falling 18 per cent since the start of the Iran war, due to rising Brent crude prices, a weakening rupee, and disruptions to its West Asia and European flight networks caused by geopolitical tensions.
'We may be able to wind back some of the schedule reductions we'd taken in recent months.'
Air India, IndiGo and SpiceJet have told the government that the country's airline industry is under extreme stress and on the verge of "stopping operations", as they sought revision in ATF pricing and financial support.
The government has sharply reduced excise duty on petrol to 3 and diesel to zero, offering major relief to consumers. Here's how the price cut will impact fuel rates and inflation.
Even flights on foreign routes pay more when they refill in India.
Cooking oil is often discarded after being used for frying at home or in restaurants. However, a refinery of IndianOil has now won a certification to use the same oil to produce sustainable aviation fuel (SAF), the company chairman Arvinder Singh Sahney said.
The broader conflict in West Asia, the largest international market for Indian carriers, has forced a sharp reduction in daily flights relative to the summer schedule.
Civil Aviation Minister Ram Mohan Naidu said the reduction in airport charges is aimed at containing airfare increases and supporting both airlines and passengers.
Indian wedding bookings to Sri Lanka are projected to grow 20-25 per cent annually over the next few years.
Jet fuel prices are likely to be reduced by Rs 2,000 per kilolitre from December 1 in line with fall in international oil prices.
Responding to concerns raised by Leader of the Opposition Rahul Gandhi in the Lok Sabha, Petroleum Minister Hardeep Puri said it is the foremost priority of the government that the kitchens of over 33 crore families, especially the poor and the underprivileged, do not face any shortage of gas.
The airline industry remained largely undecided on the exact quantum of increase in fares following the hike in ATF prices. Industry sources, however, said the prices might increase by Rs 150 for short haul routes and Rs 300 for long haul routes.
The Reserve Bank of India's decision to allow airlines hedge jet fuel in global markets came in for praise from the industry and the civil aviation ministry, but end-users are unlikely to benefit in the form of lower airfares.
In a bid to bring down the cost of air operations, Aviation and Petroleum ministries will meet FM to get ATF notified as 'declared good'.
Aviation Minister Praful Patel has requested FM to rationalise taxes on aviation fuel in Budget 2008-09.
Flying high on the country's aviation industry boom, Indian Oil Corporation expects to continue its double digit growth in the aviation fuel business despite the entry of Oil and Natural Gas Corporation into the segment.
International oil and gas giant Royal Dutch Shell is all set to foray into distribution of Aviation Turbine Fuel, fuel for airplanes.
Airlines are cutting not only international services but also domestic flights, especially on routes projected to remain unprofitable in the coming weeks due to weak demand and high fares.
The government has dismissed speculation of an imminent increase in petrol and diesel prices, assuring citizens that there are no plans for a hike despite rising crude oil costs.
