The new year began on a positive note for domestic airlines as state oil marketing companies slashed aviation turbine fuel (ATF) price by 14.7 per cent.
This is the second consecutive drop in jet fuel price and the sharpest cut since November 2008.
A kilolitre of ATF will now cost Rs 58,060 in Delhi compared to Rs 68,050.
The revision brings relief to domestic airlines which have been struggling to make profit because of a rise in operating costs.
Fuel accounts for around 40 per cent of the expenses of domestic airlines.
High fuel and depreciating rupee resulted in big losses for the three major airlines in the second quarter of FY19.
This is the second consecutive drop in jet fuel price and the sharpest cut since November 2008.
A kilolitre of ATF will now cost Rs 58,060 in Delhi compared to Rs 68,050.
The revision brings relief to domestic airlines which have been struggling to make profit because of a rise in operating costs.
Fuel accounts for around 40 per cent of the expenses of domestic airlines.
High fuel and depreciating rupee resulted in big losses for the three major airlines in the second quarter of FY19.
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