SpiceJet to raise fuel surcharge on air tickets

SpiceJet to raise fuel surcharge on air ticketsSpiceJet Ltd, the Low cost Indian airlines with lowest air fares in India, has plans to raise fuel surcharge on air tickets by up to Rs 300, after last week's rise in jet fuel prices.

Recently, Jet Airways and Kingfisher Airlines, has raised fuel surcharge by the same amount, effective April 19. Both companies increased the fuel surcharge by Rs 300 for flights longer than 750 km, and Rs 200 on short-distance.

The higher fares come after India's state-run oil marketing firms raised the price of aviation turbine fuel (ATF) for domestic carriers by 6.7 per cent on April 16. They had earlier raised fuel prices by 10 per cent on April 1.

It should be noted that ATF prices account for over 40 per cent of an airline's operating cost.

During early trading hour, the scrip of Kingfisher Airlines is trading up 8% to Rs38.7, Jet Airways by over 6% to Rs212 and SpiceJet advanced over 4% to Rs19.

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