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Airfares to soar in Dec qtr as jet fuel prices rise
Mint Mumbai
|October 07, 2023
Airfares are expected to soar further in the December quarter as more airlines follow market leader IndiGo in imposing surcharges to make up for costlier jet fuel. This, in a quarter that anyway sees the highest fares during the year thanks to a slew of festivals and holidays.
On Thursday, IndiGo, which has over 63% market share, said it will levy a fuel surcharge of ₹300-1,000 on every ticket beginning 6 October.
SpiceJet is also planning a fuel surcharge, an airline executive said.
"Fares were already trending higher for the festive months of October and November due to high travel demand. Additional fuel charges by airlines will increase fares by ₹400-500 across key routes. For example, an IndiGo Delhi-Mumbai one-way flight was costing ₹4,700 on average, and now, it is ₹5,300," Manan Bajoria, group vicepresident, growth at ticket booking platform ixigo said.
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