New Delhi, April 1 SpiceJet Chairman and Managing Director Ajay Singh said on Wednesday that the government's decision to allow only a partial increase in jet fuel prices would be a significant relief for the country's aviation industry at a time of unprecedented global uncertainty.
Public sector oil marketing companies, under the Ministry of Petroleum, in consultation with the Ministry of Civil Aviation, have decided to implement only a partial and staggered increase of 25 per cent or Rs 15/litre for domestic airlines, Civil Aviation Minister K Rammohan Naidu said in a post on X.
Airlines are already incurring higher operational costs due to airspace restrictions in the West Asia region amid the conflict. The situation is forcing carriers to take longer routes for international flights, resulting in increased fuel consumption.
"The government's decision to allow only a partial increase in Aviation Turbine Fuel prices comes as a significant relief for the Indian aviation industry at a time of unprecedented global uncertainty," Singh said in a statement on Wednesday.
He also said that this timely intervention will go a long way in helping airlines navigate one of the most challenging global crises in recent times, marked by severe external disruptions and volatility in fuel markets.