[Editor’s Note: For the latest updates on how US-Iran hostilities have escalated since a 14-point deal was signed on June 17, follow the Khaleej Times live blog.]
Indian airline IndiGo on Monday said it would increase its fuel charges on domestic and international routes from October 6 as aviation turbine fuel costs rise globally.
Fuel charges on domestic routes will increase between Rs375 ($3.89) and Rs1,300, compared to earlier charge of Rs275 to Rs950. Those on international routes will rise to Rs1,000 to Rs10,000, compared to the earlier charge of Rs900 to Rs10,000, based on the distance travelled.
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IndiGo had last raised fuel charges in April. The move comes as aviation turbine fuel costs remain volatile due to the US-Israel-Iran war, with global prices rising 14 per cent month-on-month in October, the airline said. Jet fuel accounts for up to 40 per cent of airlines’ operating costs and sharp price swings can erode their profitability. IndiGo posted a first-quarter loss of Rs3.82 billion. The company said in May that it would consider hedging fuel costs to protect margins.
Source: Khaleej Times