South Korean airlines are set to raise fuel surcharges on international routes next month as jet fuel prices rise at a faster pace, industry people said on Wednesday.
ATF price was hiked by Rs 6,743.25 per kilolitre or 8.5 per cent to Rs 86,038.16 per kl in the national capital, according to a price notification of state-owned fuel retailers
In a Q&A, the aviation minister says he believes govt shouldn't be in the business of running airlines and must develop the ecosystem of civil aviation instead
Jet fuel or ATF price was hiked by 4.2 per cent - the second increase in rates this month warranted by firming international oil prices, but petrol and diesel prices remained unchanged
In the first reduction in rate in two months, jet fuel or ATF price on Thursday was cut by 3 per cent in line with softening international crude oil prices
ATF or jet fuel cost in India is among the highest in the world and the industry has long been demanding that it should be brought under GST regime
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The first band consists of flights that are of less than 40 minutes duration
ATF prices are revised on 1st and 16th of every month based on average of benchmark international price and foreign exchange rate in the preceding fortnight
Simultaneously, non-subsidised cooking gas LPG rates were increased by Re 1 to Rs 594 per 14.2-kg cylinder in the national capital
Simultaneously, petrol and diesel prices were hiked for the 10th day in a row
The price of ATF in the national capital has been raised by Rs 11,030.62 to Rs 33,575.37 per kilolitre
Aviation turbine fuel (ATF) price has been cut by Rs 6,812.62 per kilolitre, or 23.2 per cent, to Rs 22,544.75 per kl in the national capital
This is the second straight monthly increase in rates warranted due to firming up of prices in the international market
The domestic air passenger volume grew in double digit for five consecutive years, it said in a release
The three OMCs revise the jet fuel prices on the first of every month
Govt raised customs duty on ATF last month, which will push up prices in the next revision
Air ticket prices could go up in October when the peak travel season begins
Also, kerosene price was increased by 26 paise following the monthly practice of raising rates marginally every month with a view to eliminating the subsidy
The revision adds to the cost pressure already being borne by the carriers