The cut is the steepest since May last year, an executive at Bharat Petroleum Corp told ET. The prices were dropped after Brent crude slid to a year low of $94.24 on Tuesday.
On October 4, 2012 the union cabinet declared airports at Lucknow, Coimbatore, Trichy, Mangalore and Varanasi as international.
Earlier this month, Sitharaman reached Cairns for the G20 summit without her baggage since Air India unloaded it in Melbourne instead of Sydney where she took her connecting flight.
“We would like to buy stake in a small insurance company that we would add value to and grow the market through our skill set of marketing and branding etc,” he added.
IndiGo and the FIA have been trying to squeeze us out. I have never seen competitors like these. They pushed me the wrong way, says Fernandes.
The ongoing price wars between airlines have revealed a desperation that’s fast blurring the lines in the Indian aviation market.
SpiceJet in July posted industry-best load factor figure 79.4% during July. In June too, it had the industry's highest seat occupancy levels at 81.4%.
Jet & Qatar Airways are offering discounts to take on Emirates & SIA whose recently started A380 flights are scooping passengers in big chunks.
The shift to mobile app behaviour has been driven by flash sales of airlines such as SpiceJet which encourages consumers to embark on impulse trips.
The average 60-day fare in sectors such as Delhi-Mumbai, Mumbai-Bangalore and Mumbai-Goa is about Rs 3,200, about 20 per cent lower than last year.
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