shot-button
Ganesh Chaturthi Ganesh Chaturthi
Home > News > India News > Article > SpiceJet hikes fares by up to 15 per cent amid sharp rise in jet fuel price and rupee slide

SpiceJet hikes fares by up to 15 per cent amid sharp rise in jet fuel price and rupee slide

Updated on: 16 June,2022 11:28 AM IST  |  Mumbai
mid-day online correspondent |

SpiceJet Chairman and Managing Director Ajay Singh announced a "minimum 10-15 per cent increase in fares" in order to better sustain operations

SpiceJet hikes fares by up to 15 per cent amid sharp rise in jet fuel price and rupee slide

Representative image

Air travel is expected to get expensive amid a sharp rise in aviation turbine fuel (ATF) prices and the depreciation of the rupee, said SpiceJet Chairman and Managing Director Ajay Singh.


Singh on Thursday announced a "minimum 10-15 per cent increase in fares" in order to better sustain operations.


"ATF prices have increased by more than 120 per cent since June 2021. This massive increase is not sustainable and governments, central and state, need to take urgent action to reduce taxes on ATF that are amongst the highest in the world," Singh said in a statement.


SpiceJet has in the last few months tried to absorb as much burden of this fuel price rise, which constitutes more than 50 per cent of our operational cost, as we could, he said.

"The weakening of the Indian rupee against the US dollar further significantly impacts airlines as our substantial cost is either dollar denominated or pegged to the dollar," he added.

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!

Register for FREE
to continue reading !

This is not a paywall.
However, your registration helps us understand your preferences better and enables us to provide insightful and credible journalism for all our readers.

Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK