Relief for flyers! Airlines unlikely to hike airfares; here is why
Levying of 5 per cent customs duty on jet fuel is unlikely to push airfares higher as bulk of the fuel is produced locally, a senior Finance Ministry official said Thursday.
The government has decided to hike import duties on 19 non-essential items, including Aviation Turbine Fuel (ATF), to curb widening current account deficit amid rising oil prices and falling rupee. Image Source: Reuters