Oil stocks up as govt cuts windfall tax on petroleum cude to zero
Levy on petrol, diesel, and aviation turbine fuel has been kept unchanged at zero
atf prices
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LPG prices hiked by ₹50; here’s how oil, gas stocks reacted
With this, the commercial LPG cylinders will now cost ₹2,119.50 per unit and the domestic LPG cylinders will now cost ₹1,103 per unit in Delhi.
Aviation industry suffered ₹11,658 cr loss in FY22
Govt cites COVID-19 disruptions, rupee depreciation against the US dollar, and a high operating cost environment, especially due to an increase in ATF prices, for high losses of airlines.
Domestic air passenger growth on the rise after 61% dip in FY21: Govt
The trend of CO2 emissions from the Indian aviation sector up to 2021 shows a 27% increase due to scheduled passenger airlines to or from domestic destinations.
Air passenger traffic down 10% over pre-Covid levels in Sept
International traffic for Indian carriers surpasses pre-Covid levels by 34%. ICRA’s negative outlook on the Indian aviation industry continues.
SpiceJet sends 80 pilots on leave without pay for 3 months
Decision taken to “rationalise” cost as a prolonged grounding of the MAX fleet has led to excess pilots, says SpiceJet.
Windfall tax: Centre hikes levies on diesel, ATF export; raises domestic crude oil tax
Export cess on diesel increased further to ₹13.5 per litre, while ATF will now attract export levy of ₹9 per litre, shows revised notification by FinMin
No airfare caps on domestic flights from today
Airlines can now fix airfare charges based on price capping policies and demand; govt says decision taken after careful analysis of daily demand, air turbine fuel prices
High ATF prices, weak rupee to drag aviation revival; outlook negative
Elevated ATF prices will impact earnings and liquidity profile of the airlines in the near to medium term, while weaker rupee to dollar will raise input costs.
Pan, Pan, Pan! SpiceJet, Air Asia, Vistara, IndiGo, Air India—no end to airlines’ woes
India’s airlines are collectively a whisker away from calling Mayday thrice
