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

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.