International jet fuel prices in India cut 27% helping airlines
Big news for Indian airlines: jet fuel prices for international flights just got cut by 27%.
This is a welcome break, since carriers have been feeling the pinch from rising global oil costs and rerouted flight paths caused by the West Asia crisis.
The price drop should help ease some of that financial stress.
Domestic jet fuel prices unchanged
Fuel costs for domestic flights haven't budged, staying flat for the second month to keep things stable at home.
With fuel making up a huge chunk of airline expenses, earlier hikes had forced higher surcharges on international routes.
Airlines are now asking the government to bring back a pricing cap system to help balance things out.
Meanwhile, Air India has responded by cutting its international flight schedule by 27% through August, citing high fuel costs and longer routes as key reasons.