New Delhi, June 3 (IANS) The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved one-time budgetary support of Rs 10,000 crore for Oil Marketing Companies (OMCs) to provide ATF price stabilisation support to Scheduled Indian Airlines for their domestic and international operations amid the West Asia crisis.The budgetary support will be in the form of interest-free advances to OMCs through the Demands for Grants of the Ministry of Petroleum and Natural Gas. It will shiel…
Latest Aviation Turbine Fuel News & Updates
New Delhi, May 27 (IANS) Air India has reduced the number of flights on some domestic routes between June and August as the loss-making airline struggles to cut costs amid soaring fuel prices triggered by the Middle East conflict, a statement said on Wednesday.The Tata Group-owned airline said in the statement that the move follows its earlier decision to scale back certain international services.”In continuation of our previously announced adjustments to select international services between Ju…
New Delhi, May 16 (IANS) The Delhi government Cabinet headed by Chief Minister Rekha Gupta has decided to reduce the VAT rate on Aviation Turbine Fuel (ATF) in the National Capital Region from 25 per cent to 7 per cent, an official said on Saturday. This concessional rate will initially be applicable for a period of six months and may help in preventing a spike in airfares in view of the global oil supply disruption due to the Iran conflict, said the official.In another development, Chief Minist…
New Delhi, May 16 (IANS) The Delhi government on Saturday announced a major reduction in Value Added Tax (VAT) on Aviation Turbine Fuel (ATF), bringing the levy down from 25 per cent to 7 per cent in a move aimed at easing operational costs for airlines and providing relief to air passengers.According to the Chief Minister’s Office, the decision is expected to lower fuel expenses for carriers operating from the national capital and help improve the overall viability of airline operations.“De…
New Delhi, May 16 (IANS) The government has revised export taxes on petroleum products, imposing a special additional excise duty (SAED) of Rs 3 per litre on petrol exports while reducing the duty on diesel to Rs 16.5 per litre, effective from Saturday.The notification by the Ministry of Finance stated that the entry of Rs 3 per litre shall be substituted for petrol exports, while diesel has been revised to Rs 16.5 per litre.It further said the road and infrastructure cess has been reduced to ze…
Mumbai, May 15 (IANS) The Maharashtra government announced a significant reduction in the Value Added Tax on Aviation Turbine Fuel, effective from May 15 and applicable until November 14, 2026. The state Finance Department issued a notification lowering the tax rate to 7 per cent, down from the previous 18 per cent.This 11-percentage-point cut is intended to provide temporary relief to airlines and help stabilise surging airfares during the peak summer travel season.Finance Department sources sa…
Gandhinagar, May 8 (IANS) Union Minister of Civil Aviation Ram Mohan Naidu Kinjarapu said on Friday that India’s commercial airlines currently have outstanding deliveries of 1,640 aircraft, which translates into a $50 billion opportunity for the country’s leasing ecosystem over the coming decade. Addressing the India Aircraft Leasing and Financing Summit 2.0 at GIFT City here, the minister said India’s commercial aircraft fleet is expected to reach 1,100 aircraft by 2027 and expand to o…
New Delhi, May 1 (IANS) The price of a 19-kg commercial LPG cylinder has been increased by Rs 993, starting Friday, and after the revision, a 19-kg cylinder will now cost Rs 3,071.5 in Delhi.However, there has been no change in the price of domestic LPG cylinders for 33 crore users, the Indian Oil Corporation (IOC) said in a statement.This is the third time that the price of a 19-kg commercial LPG cylinder has been increased since February 28, when the US-Israel and Iran war began.It first saw a…
New Delhi, April 30 (IANS) AIMIM chief Asaduddin Owaisi on Thursday criticised a fresh circular issued by the Haj Committee of India that asks pilgrims to pay an additional Rs 10,000 as differential airfare, citing the ongoing crisis in West Asia, and demanded that the directive be withdrawn with refunds issued to those affected.He pointed out that the extra charge is being imposed after an amount of Rs 90,844 per pilgrim has already been collected from those departing from Mumbai, raising conce…
New Delhi, April 28 (IANS) Indian airlines are likely to take a call on capacity cuts after the next ATF revision, as a sharp increase in jet fuel prices could force them to rationalise operations, particularly on less profitable routes, according to a report on Tuesday.Domestic carriers are in a wait-and-watch mode as they assess the impact of rising Aviation Turbine Fuel (ATF) prices and prepare for possible changes following the next price revision due in May, NDTV Profit reported.The report …