The declining Rupee, Syrian crisis and fuel price hike have taken a toll on the aviation industry. The Aviation Turbine Fuel (ATF) or Jet Fuel has been hiked by a steep 6.9%, which means there will be a 10-15% hike in all air fares in the country. The Jet Fuel prices were hiked by 5.8% on July 1 and another 6.3% on August 1.
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These unprecedented hikes have forced the airlines to contemplate hiking the air fare. While most airlines have hinted at a 10-15% hike in air fares, some others have hinted at a 20-25% hike, putting more pressure on the people just ahead of the festive and holiday season.
The SpiceJet was the first to react, saying it would hike the fares by up to 30%. Other airlines such as Jet Airways and Air India would follow suit. Interestingly, the travel agents have stopped taking booking for the holiday seasons, saying their planner is not yet ready. They are definitely concerned about the rising USD against the Rupee and possible air fare hike. They want to wait before going with a final rate so that additional burden does not come to them.
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