Air India aircraft parked on the tarmac of the international airport in Mumbai. (Sattish Bate/Hindustan Times via GettyImages)In a major boost for the Indian aviation industry which has been battered by the disruption introduced by COVID-19 pandemic globally, the aviation turbine fuel (ATF) charges in India have been cut by a steep 23 per cent, reports Economic Times.
The steep fall in ATF prices brings down its price to a third of the price of petrol and diesel whose prices ave remained frozen for a continuous period of 50 days as of Sunday (3 May). The price cut also is in line with the slump in the international oil prices.
Not only does this mark the steepest cut ever in the prices of ATF, but also the sixth such reduction in the price since February this year. Since February, the prices of ATF have been slashed by almost two-thirds. In Delhi, for instance, the price of ATF before the beginning of the reduction cycle in February stood at Rs 64,323.76 per kiloliter. Now, the same figure has come down to 22,544.75 per kiloliter.
Until March, the ATF prices used to be revised on the first of every month. However, on 21 March, the oil companies adopted the practice to revise the practice fortnightly in a bid to pass on the benefit of falling international oil prices to the airlines.
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