Flight ticket prices to increase by up to 15 percent: Spicejet CMD

Updated : Jun 16, 2022 09:01
|
EJ Biz Desk

Airline tickets are set to increase by 10 to 15 percent due to a hit by jet fuel prices and a depreciating rupee.

"Sharp increase in jet fuel prices & depreciation of Rupee have left domestic airlines with little choice but to immediately raise fares&we believe that a min 10-15% increase in fares is required to ensure that cost of ops are better sustained," Ajay Singh, CMD of SpiceJet said on Thursday. 

The price of aviation turbine fuel (ATF) has been spiked by 16.3 percent to an all-time high of Rs 1.41 lakh per kilolitre in Delhi, CNBC TV-18 reported on June 16.

ATF price has nearly doubled In 2022, up 91 percent in the last six months.

Rupee has depreciated 500 basis points against the US Dollar this year.

Jet fuel prices on June 3 were cut by 1.3 percent, its first reduction after 10 rounds of price hikes.

ATFFuel

Recommended For You

editorji | Business

RBI trims policy interest rate by 25bps to 5.25pc, loans to get cheaper

editorji | Business

Rupee slumps to all-time low of 90.25 against US dollar in intra-day trade

editorji | Business

Reliance completes merger of Star Television Productions with Jiostar

editorji | Business

India to lead emerging market growth with 7pc GDP rise in 2025: Moody’s

editorji | Business

Nifty hits record high after 14 months; Sensex nears all-time peak