When the Tatas re-boarded Air India on January 27 last year, the price of aviation turbine fuel was at over Rs 80,000 per kilolitre. Rupee was trading at around Rs 74 to a US dollar. The Omicron variant of Covid-19 was in prevalence – barely a week earlier, India had reported over 340,000 cases on a single day. Seven-day home quarantine of international travellers was the norm.
A year later, the Covid-19 pandemic fear has largely dissipated. While jet fuel price and exchange rate has worsened compared to last January, travel demand has made a strong rebound. (Domestic air traffic