New Delhi, March 16, 2022: Over the past few weeks, crude oil prices have soared to a 7-year high nearing $140 per barrel, due to the ongoing conflict in Europe. This has resulted in over 50% ATF price hike from January 2022 till date, including the 18% hike today. This situation adversely impacts us, given that ATF constitutes over 45% of our operational costs. We have been in talks with the government to bring ATF under GST as it brings the benefit of input tax credit. We believe that such measures are needed now more than ever to offset this increase in cost and make flying viable for airlines and affordable for consumers. A rationalization of taxes will result in high growth for the sector, creating a multiplier effect throughout the economy, promoting trade, tourism and job creation.
Corporate Comm India (CCI Newswire)
