The New Year could bring cheer for air travellers with fares set to come down.
Jet Airways and Kingfisher Airlines on Monday announced reductions in fares, following a sharp fall in aviation turbine fuel (ATF) or jet fuel price in the last few months.
In a statement issued, Jet Airways said it has reduced basic fares in economy class by up to 40 per cent on all domestic flights with immediate effect. A Mumbai-Delhi economy class basic fare will now be Rs 2,000, the statement said. The total fare, however, will include taxes totaling upwards of Rs 2,000.
Kingfisher said it will cut fares in the New Year, but did not disclose the quantum of reduction. “The current low ATF price allows Kingfisher to pursue an opportunity to significantly increase market share at reduced fares,” Chairman Vijay Mallya said in a statement.
State-run Air India was the first to reduce fares two-weeks ago when it reduced fuel surcharge by Rs 400 per ticket.