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
Levy on petrol, diesel, and aviation turbine fuel has been kept unchanged at zero
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.
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.
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.
International traffic for Indian carriers surpasses pre-Covid levels by 34%. ICRA’s negative outlook on the Indian aviation industry continues.
Decision taken to “rationalise” cost as a prolonged grounding of the MAX fleet has led to excess pilots, says SpiceJet.
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
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
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.
India’s airlines are collectively a whisker away from calling Mayday thrice