Millions of air travellers may find some relief in the coming days. Amid a fall in international crude oil prices, the central government has indicated that if the decline persists, airlines may be asked to review surcharges and fare increases. This has raised the possibility that future flight ticket prices will become cheaper.
According to news agency ANI, Civil Aviation Minister K Ram Mohan Naidu said on Thursday that the government is closely monitoring the prices of Aviation Turbine Fuel (ATF). ATF is one of the highest costs for airlines, and its prices directly impact airfares. The government is currently assessing whether the recent price drop is temporary or will persist in the long term. According to the minister, if prices stabilise, steps will be taken to reduce the burden of surcharges on passengers by engaging with airlines.
The last few months have been challenging
The government says the aviation sector has faced numerous challenges over the past four months. Global tensions, particularly those related to the US-Iran conflict, have impacted fuel prices. This has increased cost pressures on airlines, and in many cases, passengers have had to pay higher fares. Although oil prices have now softened somewhat, the government does not want to make any hasty decisions. It will first ensure that prices remain stable over the long term.
Airlines get government support
The government has taken several steps to provide relief to airlines amid the current uncertainty. Efforts have been made to control ATF prices for domestic airlines. Airport fee relief and assistance under emergency credit-linked schemes are also being provided. The government has also established a price stabilisation fund of approximately Rs 10,000 crore to provide financial assistance to airlines during this crisis.
When will passengers get relief?
Currently, there has been no official announcement regarding lower flight ticket prices. However, recent government indications suggest that if crude oil and ATF prices remain under control for an extended period, airlines may face increased pressure to reduce surcharges and provide fare relief. Consequently, air travel may become somewhat more affordable for the general public in the coming months.
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