Airline stocks hit 52-week low, fall up to 5% on hike in import duty of jet fuel
6 years, 3 months ago

Airline stocks hit 52-week low, fall up to 5% on hike in import duty of jet fuel

Firstpost  

The government on Wednesday raised import duties on 19 items, including jet fuel as it looks to check the widening current account deficit resulting from high crude oil prices and the rupee dipping to a historic low. New Delhi: Aviation stocks tumbled up to 5 percent on Thursday after the government raised import duty on jet fuel. The government has announced an import duty of 5 percent on aviation turbine fuel. “The 5 percent basic custom duties hike on aviation turbine fuel was unanticipated, and could lead to a rise in fuel bill up to 0.5 percent for carriers such as Indigo,” JM Financial Institutional Securities said in a report.

Jet Fuel Import Duty  raised  airline  tumbled  widening  duty  duties  jet  fuel  hit  import  turbine  fall  stocks  hike  low  aviation

History of this topic

Sluggish Europe, US hit air cargo exports from India
1 year, 6 months ago

Sluggish Europe, US hit air cargo exports from India

Live Mint  

New Delhi: Demand for air cargo exports from India has declined following the pandemic, primarily due to economic contractions in the US and Europe. “During covid, there was less capacity or few freighters so, the air freight rate to the US went up to ₹700-800 per kg, which was very high.now, it is down to ₹200 a kg. Data from …

Aviation stocks soars as government lifts domestic airfare caps; InterGlobe, Spicejet gains
2 years, 5 months ago

Aviation stocks soars as government lifts domestic airfare caps; InterGlobe, Spicejet gains

Firstpost  

The decision to remove air fare caps has been taken after careful analysis of daily demand and prices of Air Turbine Fuel. Stabilisation has set in and sector is inclined for growth in domestic traffic in near future, said Aviation Minister Jyotiraditya Scindia New Delhi: Following the Civil Aviation Ministry’s announcement that domestic airfare limitations will be lifted, aviation stocks …

Jet fuel price cut by 2.2%
2 years, 5 months ago

Jet fuel price cut by 2.2%

The Hindu  

Jet fuel prices on Saturday, July 16, 2022, were reduced by 2.2%, reflecting a fall in international oil prices. Aviation turbine fuel prices were cut by ₹3,084.94 per kilolitre, or 2.2%, to ₹138,147.93 per kl, a price notification of state-run fuel retailers showed. ATF prices are revised on the 1st and 16th of every month based on rates of benchmark …

‘No choice’ but to raise airfares, says SpiceJet CMD
2 years, 6 months ago

‘No choice’ but to raise airfares, says SpiceJet CMD

The Hindu  

Airlines had “no choice” but to raise airfares because of the increasing prices of aviation turbine fuel, SpiceJet CMD Ajay Singh said. “The sharp increase in jet fuel prices and the depreciation of the rupee have left domestic airlines with little choice but to immediately raise fares, and we believe that a minimum 10-15% increase in fares is required,” Mr. …

Jet fuel prices in India touch new record after 16% hike
2 years, 6 months ago

Jet fuel prices in India touch new record after 16% hike

The Hindu  

Jet fuel prices on Thursday were hiked by the steepest ever 16% to catapult rates to an all-time high in step with hardening international oil rates. The hike, which comes on the back of a marginal 1.3% cut in rate earlier this month, takes jet fuel prices to record high across the country. Petrol, diesel price unchanged Meanwhile, petrol and …

Minimum 10-15% increase in airfares must: SpiceJet CMD
2 years, 6 months ago

Minimum 10-15% increase in airfares must: SpiceJet CMD

Deccan Chronicle  

New Delhi: The sharp increase in aviation turbine fuel prices and the depreciation of the rupee have left the domestic airlines with no choice but to immediately raise airfares, said Ajay Singh, Chairman and Managing Director, SpiceJet, on Thursday. A minimum 10-15 per cent increase in air fares is required to ensure that cost of operations are better sustained, Singh …

Air travel to become dearer as ATF price hits all-time high after 16% hike
2 years, 6 months ago

Air travel to become dearer as ATF price hits all-time high after 16% hike

India TV News  

Highlights This is the 11th increase in jet fuel price this year The increase in jet fuel price will raise the operating cost for airlines ATF makes up to 40 per cent of an airline's operating cost Air travel is likely to become costlier after the price of aviation turbine fuel, the fuel that helps aeroplanes fly, was on Thursday …

Jet Fuel Prices Today Cut by 1.3% in Big Relief; Air Travel to Get Cheaper Soon?
2 years, 7 months ago

Jet Fuel Prices Today Cut by 1.3% in Big Relief; Air Travel to Get Cheaper Soon?

News 18  

Jet Fuel Price Slashed: The prices of aviation turbine fuel or ATF, that is required to run an aeroplane, was decreased by 1.3 per cent, state owned Indian Oil Corporation announced on Wednesday, June 1. ATF Prices in Recent Times and Impact on Air Travel Earlier on May 16, Indian Oil Corporation had announced a hike in jet fuel prices …

Air Travel to Get Expensive as Jet Fuel Prices Hiked by 5 Percent in Delhi
2 years, 7 months ago

Air Travel to Get Expensive as Jet Fuel Prices Hiked by 5 Percent in Delhi

News 18  

The Indian Oil Corporation has announced a hike in jet fuel prices by 5 percent, taking it to Rs 1.23 lakh per kilolitre in Delhi, CNBC-TV18 reported today on May 16. The aviation turbine fuel prices have been hiked 61.7 per cent from Rs 72,062 per kl to Rs 1.23 lakh per kl since January. In Chennai, petrol retail price …

Air travel to become dearer! Jet fuel price hiked by 5%
2 years, 7 months ago

Air travel to become dearer! Jet fuel price hiked by 5%

India TV News  

Highlights ATF prices were hiked by 5%, taking it to a record high of Rs.1.23 lakh per kilolitre in Delhi. Aviation turbine fuel prices were hiked by 5 percent, taking it to a record high of Rs.1.23 lakh per kilolitre in Delhi, according to state-owned fuel retailers. Fuel prices have hiked by a whopping 61.7 percent from Rs 72,062 per …

ATF price up marginally, rates at record high
2 years, 8 months ago

ATF price up marginally, rates at record high

The Hindu  

Jet fuel prices on Saturday were hiked by a marginal 0.2% — the eighth straight increase this year — to an all-time high, reflecting a surge in global energy prices. The price of aviation turbine fuel — the fuel that helps aeroplanes fly — was hiked by ₹277.5 per kilolitre, or 0.2%, to ₹1,13,202.33 per kl in the national capital, …

Jet Fuel Prices At All-time High: Will Airlines Raise Domestic Flight Ticket Prices Soon?
2 years, 9 months ago

Jet Fuel Prices At All-time High: Will Airlines Raise Domestic Flight Ticket Prices Soon?

News 18  

As the jet fuel prices have been rising for quite some time and currently hovering at an all-time high levels, the aviation industry is facing the heat on its finances. ICRA on Jet Fuel Hikes Rating agency ICRA expects the Indian aviation industry to report a net loss of Rs 25,000-26,000 crore in FY2022. “Elevated aviation turbine fuel prices, which …

Air Travel to Get More Expensive as ATF Prices Hiked to All-Time High in India
2 years, 9 months ago

Air Travel to Get More Expensive as ATF Prices Hiked to All-Time High in India

News 18  

Jet fuel prices were hiked today by 2 per cent – the seventh straight increase this year – to an all-time high, reflecting a surge in global energy prices. Aviation turbine fuel was hiked by ₹ 2,258.54 per kilolitre, or 2 per cent, to ₹ 1,12,924.83 per kl in the national capital, according to a price notification by state-owned fuel …

Jet Fuel Under GST? IndiGo CEO Urges Govt to Consider it After Massive Hike in ATF Prices
2 years, 9 months ago

Jet Fuel Under GST? IndiGo CEO Urges Govt to Consider it After Massive Hike in ATF Prices

News 18  

Aviation Turbine Fuel or ATF prices have seen a steep rise over the past few months, and the hike seems to be in no mood to stop since crude oil prices too have been increasing due to restricted oil supply amid the situation arising Russia’s invasion on Ukraine. The price of aviation turbine fuel has increased by 50 per cent …

Air Travel to Get Costlier as Jet Fuel Prices Rise to Record High After Price Hike
2 years, 10 months ago

Air Travel to Get Costlier as Jet Fuel Prices Rise to Record High After Price Hike

News 18  

Air travel is expected to get costlier as oil marketing companies on Wednesday raised the aviation turbine fuel prices for the second time in February. In the national capital, the price of jet fuel was raised to Rs 90,519.79 per kilolitre from Rs 86,038.16 per kilolitre. Fuel retailers revise jet fuel prices on a fortnightly basis. At present, fuel based …

As State Run Refiners Increase Jet Fuel Prices, Air Travel Likely to Get More Costly
3 years, 5 months ago

As State Run Refiners Increase Jet Fuel Prices, Air Travel Likely to Get More Costly

News 18  

State-run refiners increased the jet fuel prices on Friday adding more worries to the Indian carriers struggling to reboot operations after extensive disruptions due to the fresh wave of the pandemic. In the National capital, ATF prices for domestic airlines increased by 2.44 per cent from Rs 68,262.35 per kilolitre on July 1 to Rs 69,857.97 on July 16. Any …

Air travel may become costlier as jet fuel prices soar
3 years, 6 months ago

Air travel may become costlier as jet fuel prices soar

India TV News  

Prices of Air Turbine Fuel, also known as jet fuel, soared to Rs 68,262 per kiloliter in Delhi on Thursday, around 30 per cent more expensive than in January 2021. "ATF prices hiked in Delhi by 3.6 per cent and stood at Rs 68,262.35 per kl, in Kolkata it is increased by 3.27 and is at Rs 72,295.24 per kl; …

Big increase in jet fuel price adds to the woes of airlines
4 years, 6 months ago

Big increase in jet fuel price adds to the woes of airlines

Live Mint  

A steep increase in jet fuel prices by state-run refiners will swell the operating costs of Indian carriers at a time when they are struggling to reboot operations after a two-month halt due to the pandemic. “The price of ATF rose substantially during June, which is not a good sign, as airlines resumed domestic operations after two months of grounding …

Jet Airways shares continue to face massive selling pressure; tumble over 18% to hit a multi-year low of 67.05
5 years, 6 months ago

Jet Airways shares continue to face massive selling pressure; tumble over 18% to hit a multi-year low of 67.05

Firstpost  

New Delhi: Shares of Jet Airways continued the downward trend, plunging over 18 percent on Monday as stock exchanges, last week, decided to impose restrictions on its stock trading from 28 June. The scrip which has been tumbling for the 11th consecutive day further plummeted 18.28 percent to hit a multi-year low of 67.05 on the BSE. Stock exchanges will …

Jet Airways shares continue downward trend; tank 15% after stock exchanges decide to impose trading restrictions
5 years, 7 months ago

Jet Airways shares continue downward trend; tank 15% after stock exchanges decide to impose trading restrictions

Firstpost  

New Delhi: Shares of Jet Airways further plunged nearly 15 percent on Friday after stock exchanges decided to impose restrictions on its stock trading from 28 June earlier this week. Shares of Jet Airways had on Thursday also cracked nearly 18 percent. Stock exchanges will impose restrictions on trading in Jet Airways shares from 28 June as part of preventive …

Jet Airways shares tumble nearly 18% after bourses announce trading restrictions from 28 June
5 years, 7 months ago

Jet Airways shares tumble nearly 18% after bourses announce trading restrictions from 28 June

Firstpost  

New Delhi: Shares of Jet Airways on Thursday cracked nearly 18 percent after stock exchanges decided to impose restrictions on its stock trading from 28 June. Jet Airways shares have been falling for ninth consecutive days, tumbling 39 percent on the BSE. Stock exchanges will impose restrictions on trading in Jet Airways shares from 28 June as part of preventive …

Jet Airways shares rise 6% to near 10-week high after government official rules out grounding more planes
5 years, 9 months ago

Jet Airways shares rise 6% to near 10-week high after government official rules out grounding more planes

Firstpost  

Jet is in talks with leasing companies to restart operating several of its grounded aircraft, Pradeep Singh Kharola, secretary at the civil aviation ministry said Jet Airways Ltd’s shares rose about 6 percent on Wednesday to a near 10-week high, after a top aviation ministry official ruled out grounding more planes and said the carrier would fly 40 more aircraft …

Aviation stocks up 7% even as DGCA report shows slow passenger growth in February
5 years, 9 months ago

Aviation stocks up 7% even as DGCA report shows slow passenger growth in February

Firstpost  

New Delhi: Aviation stocks on Friday rallied up to 7 percent on the BSE even as DGCA’s data showed a slowdown in air passenger traffic in February. Similarly, cash-strapped airline Jet Airways advanced 3.60 percent to settle at Rs 225.85. As per a DGCA report released on Wednesday, the number of passengers flying domestic airlines dropped to 11.3 million in …

Airfares skyrocket in fast-growing India’s aviation market on Boeing 737 Max ban
5 years, 10 months ago

Airfares skyrocket in fast-growing India’s aviation market on Boeing 737 Max ban

Live Mint  

New Delhi: Average airfares in India soared after the nation joined others in grounding Boeing Co.’s 737 Max jets, shrinking capacity in the world’s fastest-growing aviation market, where carriers have traditionally lured first-time flyers with ultra-cheap fares. Global regulators from China to the US have grounded the best-selling Boeing plane after a 737 Max jet flown by Ethiopian Airlines Group …

Spicejet shares tank 8% in morning trade after DGCA bans Boeing 737 MAX 8 planes; Jet Airways stock plunges too
5 years, 10 months ago

Spicejet shares tank 8% in morning trade after DGCA bans Boeing 737 MAX 8 planes; Jet Airways stock plunges too

Firstpost  

SpiceJet has around 12 such aircraft in its fleet. New Delhi: Shares of SpiceJet slumped 8 percent in morning trade on BSE on Wednesday, after the country banned Boeing 737 MAX 8 planes following the Ethiopian Airlines crash. On Tuesday night, the Directorate General of Civil Aviation announced its decision to “immediately” ground the Boeing 737 MAX 8 aircraft. The …

Airlines face headwinds on higher jet fuel prices
5 years, 10 months ago

Airlines face headwinds on higher jet fuel prices

Live Mint  

New Delhi: In what may exacerbate the poor financials of Indian airlines, jet fuel prices were hiked by ₹4,734.15 per kilolitre on Friday. The 8.15% increase in aviation turbine fuel prices comes against the backdrop of airlines facing rising costs in international operations because of longer flight durations and disruptions in schedules as they have had to re-route their flights …

Jet fuel price cut by 14.7% on fall in international rates; two deductions in a row make ATF cheaper than petrol, diesel
6 years ago

Jet fuel price cut by 14.7% on fall in international rates; two deductions in a row make ATF cheaper than petrol, diesel

Firstpost  

ATF rates are now cheaper than both petrol and diesel in most parts of the country and it is less expensive than even non-PDS kerosene in cities like Mumbai. New Delhi: Jet fuel price on Tuesday was cut by a record 14.7 percent on the back of decline in international rates, making it cheaper than both petrol and diesel. A …

Boeing says Indian airfares unsustainably low; lifts country's 20-year order forecast despite market challenges
6 years ago

Boeing says Indian airfares unsustainably low; lifts country's 20-year order forecast despite market challenges

Firstpost  

India’s passenger traffic has risen at around 20 percent in recent years, making it one of the world’s fastest-growing aviation markets. New Delhi: Airfares in the fast-growing Indian market are 10 to 15 percent lower than breakeven levels for airlines, a Boeing executive said, as the planemaker raised its long-term jet order forecast for the nation to a record despite …

Debt-laden Jet Airways to cut flights on some routes after further losses; to add capacity to more lucrative markets
6 years, 2 months ago

Debt-laden Jet Airways to cut flights on some routes after further losses; to add capacity to more lucrative markets

Firstpost  

Jet, India’s biggest full-service carrier posted its third straight quarterly loss on Monday, hurt by higher fuel expenses and a weaker rupee. Bengaluru/New Delhi: Debt-laden Indian carrier Jet Airways Ltd will cut flights on less profitable routes and add capacity to more lucrative markets, as part of its effort to lower costs and boost revenues as it struggles to stay …

Indian airlines stare at steepest loss in a decade: Crisil
6 years, 2 months ago

Indian airlines stare at steepest loss in a decade: Crisil

Live Mint  

Mumbai: Indian airlines may plunge into their steepest loss in a decade this financial year, slammed by rising operating costs caused mainly by high jet fuel prices and a weak rupee, Crisil Ratings said on Thursday. “At an estimated ₹ 9,300 crore, the industry’s losses at EBIT level would surpass the ₹ 7,348 crore blow it was dealt in fiscal …

Aviation stocks fly on excise cut, but party may not last long
6 years, 3 months ago

Aviation stocks fly on excise cut, but party may not last long

Live Mint  

How much difference will an excise duty cut from 14% to 11% in aviation turbine fuel make for Indian airlines? Data on Indian Oil Corp. Ltd’s website showed ATF prices in Delhi fell 2.6% on Thursday following the tax cut. Santosh Hiredesai, analyst at SBICAP Securities Ltd, said adjusted for the ad-valorem impact on ATF prices, the full-year benefit for …

Excise duty on jet fuel cut from 14% to 11% in relief for airlines
6 years, 3 months ago

Excise duty on jet fuel cut from 14% to 11% in relief for airlines

Live Mint  

New Delhi: The government on Wednesday cut excise duty on jet fuel from 14% to 11% to help keep airfares under check and to give relief to airlines troubled by high fuel prices. The move comes at a time when high jet fuel prices and a weaker rupee have kept airline finances under pressure, with companies having limited headroom in …

Indian airlines unlikely to face big hit from tariff on jet fuel imports, govt data shows
6 years, 3 months ago

Indian airlines unlikely to face big hit from tariff on jet fuel imports, govt data shows

Hindustan Times  

Indian carriers are unlikely to face a significant hit from the government’s decision this week to impose a tariff on jet fuel, as imports account for less than 5 percent of domestic jet fuel consumption. India said on Wednesday it is raising import tariffs on 19 “non-essential items,” including aviation turbine fuel, marking a further tilt toward protectionism as it …

Govt hikes import duties on 19 items; air conditioners, refrigerators, washing machines to get costlier from today
6 years, 3 months ago

Govt hikes import duties on 19 items; air conditioners, refrigerators, washing machines to get costlier from today

India TV News  

The government on Wednesday raised import duties on 19 items, including jet fuel, air conditioners and washing machines. The import duty on air conditioners, household refrigerators and washing machines doubled to 20 per cent. The basic customs duty on compressors, speakers and footwears raised to 10 per cent, 15 per cent and 25 per cent respectively. The duty on radial …

ACs, refrigerators, washing machines to get costlier, import duty hiked on over 19 items
6 years, 3 months ago

ACs, refrigerators, washing machines to get costlier, import duty hiked on over 19 items

Live Mint  

New Delhi: The government on Wednesday raised import duties on 19 non-essential items, including refrigerators, air conditioners, jewellery, diamonds and jet fuel, accounting for annual imports worth ₹ 86,000 crore, to arrest a widening current account deficit and a weakening rupee. The imposition of a 5% import duty on jet fuel is, however, unlikely to increase air fare as India …

Airline industry in 'great stress' due to high fuel prices and fall in rupee; fares likely to go up: SpiceJet chief Ajay Singh
6 years, 4 months ago

Airline industry in 'great stress' due to high fuel prices and fall in rupee; fares likely to go up: SpiceJet chief Ajay Singh

Firstpost  

On why airlines are not able to increase fares, the SpiceJet chairman and managing director said it has all happened at a time when the season is a little weak. New Delhi: The domestic airline industry is in “great stress” as it is grappling with high fuel prices and fall in rupee, SpiceJet chief Ajay Singh said on Monday as …

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