Jet Fuel

Air India to cut int'l flights till July on fuel surge, airspace curbs

Loss-making Air India will reduce its international flights till July, as the airspace curbs and surge in jet fuel prices have made many routes unprofitable, its CEO and Managing Director Campbell Wilson said on Friday. "We have reduced some flying for April and May...massive rise in jet fuel prices which, together with airspace closures and longer flying routes, have caused many of our international flights to become unprofitable to operate," he told the staff in a message. Airspace restrictions in the wake of the West Asia conflict have forced the airline to take longer routes for many international destinations, resulting in increased fuel burn. Wilson, who has announced plans to step down later this year, said the airspace and jet fuel price situation remains extremely challenging. The situation leaves the airline with no choice "but to further trim schedules for June and July", he added. "We very much regret the disruption to our customers' plans and our crew's rosters, and h

Govt cuts export duty on diesel, ATF; retail petrol prices unchanged

The export duty has been introduced to ensure domestic availability of petroleum products amid the West Asia crisis

Indian airlines warn govt soaring fuel costs threaten ops, seek urgent help

India's top airlines have asked the government for urgent relief as record-high jet fuel prices raise costs, threaten flight operations and may lead to higher fares and route cuts

Jet fuel shortages could make summer travel 'total mess', push fares higher

Facing sky-high fuel costs linked to the war in Iran, airlines are cutting routes and raising prices; European vacations are looking a lot less affordable

Air Canada to suspend flights to JFK for 5 months as jet fuel costs soar

Air Canada will suspend service to New York's JFK International airport over the summer as the war in Iran creates jet fuel shortages that have sent prices soaring. Canada's flag carrier said Friday that service from Toronto and Montreal to JFK will cease June 1 and resume Oct 25. Service to the New York metropolitan area's two other airports - LaGuardia and Newark - will continue. Air Canada offers 34 flights a day to those two airports from six Canadian cities. Air Canada says it will reach out to customers who are impacted by the suspension with alternate travel options. "As jet fuel prices have doubled since the start of the Iran conflict and some lower profitability routes and flights are no longer economic, and we are making schedule adjustments accordingly," a spokesman for the Montreal-based carrier said Friday. The average price for a gallon of jet fuel reached $4.32 on Thursday, up from $2.50 the day before the war in Iran broke out, according to Argus Media. Oil prices

EU to push for jet fuel diversification as Iran war threatens supply

Flights in Europe could start to be cancelled from the end of May due to a lack of jet fuel, the International Air Transport Association's director general Willie Walsh said

Europe has 'maybe 6 weeks of jet fuel left', energy agency head warns

Europe has "maybe six weeks or so" of remaining jet fuel supplies, the head of the International Energy Agency said Thursday in a wide-ranging interview, warning of possible flight cancellations "soon" if oil supplies remain blocked by the Iran war. IEA Executive Director Fatih Birol painted a sobering picture of the global repercussions of what he called "the largest energy crisis we have ever faced," stemming from the pinch-off of oil, gas and other vital supplies through the Strait of Hormuz. "In the past there was a group called Dire Straits.' It's a dire strait now, and it is going to have major implications for the global economy. And the longer it goes, the worse it will be for the economic growth and inflation around the world," he told The Associated Press. The impact will be "higher petrol (gasoline) prices, higher gas prices, high electricity prices," said Birol, speaking in his Paris office looking out over the Eiffel Tower. Economic pain will be felt unevenly and "the

Italy sets jet fuel restrictions at some airports amid supply shortage

Fuel restrictions for flights have been introduced at the airports of Bologna, Milan Linate, Treviso and Venice, according to a Notice to Airmen, or Notam advisories

How Iran war is fuelling a global aviation crisis as jet fuel prices spike

Jet fuel prices, the single largest cost component for airlines, have surged sharply since February and are now forcing airlines globally to raise fares and activate emergency cost controls

SpiceJet, Indigo welcome ATF price increase amid West Asia crisis

SpiceJet Chairman and Managing Director Ajay Singh on Wednesday said the government's decision to allow only a partial increase in jet fuel prices would be a significant relief for the country's aviation industry at a time of unprecedented global uncertainty. PSU oil marketing companies, under the Ministry of Petroleum, in consultation with the Ministry of Civil Aviation, decided to implement only a partial and staggered increase of 25 per cent or Rs 15/litre for domestic airlines, Civil Aviation Minister K Rammohan Naidu said in a post on X. Airlines are already incurring higher operational costs due to the airspace restrictions in the West Asia region amid the conflict. The situation is forcing carriers to take longer routes for international flights, resulting in increased fuel burn. "The government's decision to allow only a partial increase in Aviation Turbine Fuel prices comes as a significant relief for the Indian aviation industry at a time of unprecedented global ...

ATF hiked by 8.5% for domestic airlines, more than doubles for others

Prices of aviation turbine fuel (ATF), or jet fuel, were more than doubled to a record Rs 2.07 lakh per kilolitre on Wednesday, driven by the the surge in global oil prices linked to the widening West Asia conflict. This is the first time ATF prices have crossed the Rs 2 lakh per kilolitre (kl)-mark. ATF prices in Delhi were hiked to Rs 207,341.22 per kl, from Rs 96,638.14 per kl. On March 1, prices of jet fuel were hiked by 5.7 per cent (Rs 5,244.75 per kl).

Airlines raise fares, cut capacity as soaring oil prices threaten profits

Carriers ranging from United Airlines to Air New Zealand and Scandinavia's ‌SAS have announced capacity cuts and fare hikes, while others have imposed fuel surcharges

Bihar reduces VAT on aviation turbine fuel to 4% to boost air connectivity

The Bihar Cabinet on Tuesday approved the proposal for reduction of value-added tax (VAT) on aviation turbine fuel (ATF) from 29 per cent to 4 per cent. The state Cabinet meeting, chaired by Chief Minister Nitish Kumar, approved the proposal of the Commercial Tax department to reduce VAT on ATF to attract more commercial flights. Bihar DyCM Samrat Choudhary in a statement issued after the cabinet meeting said, "The Cabinet approved the reduction of VAT on ATF from 29 per cent to 4 per cent under the Regional Connectivity Scheme (RCS). With this decision of the government, the air ticket prices will further reduce and it will also attract more commercial fights in the state.it will further enhance state's revenue and will also generate employment.". Earlier, 4 per cent VAT on ATF was applicable at Gaya airport only, Choudhary who also holds the Finance portfolio said, adding now the reduced rate will be applicable at all airports in the state. "This was also done with the objective

Asia's jet fuel exports to US West Coast to hit 1-year high in May

The surge in imports comes at the start of the American summer travel season, potentially impacting travel costs and highlighting the vulnerabilities of US West Coast supply

Commercial LPG rates cut by ₹14.50, price of jet fuel cut by 4.4%

The price of commercial LPG used in hotels and restaurants was lowered by ₹14.50 per cylinder today

Asia's jet fuel imports from India to hit multi-yr high in Nov, shows data

Indian aviation fuel arriving in hubs including Singapore, Hong Kong and Malaysia will probably hit around 2.7 million barrels in November, up at least 40% from October

Jet fuel price hiked 3.3%, commercial LPG rises Rs 62 per cylinder

Jet fuel, or ATF, price on Friday was hiked by 3.3 per cent and rate of commercial LPG used in hotels and restaurants increased by Rs 62 per 19-kg cylinder in the monthly revision done in line with international oil price trends. The aviation turbine fuel (ATF) price was increased by Rs 2,941.5 per kilolitre, or 3.3 per cent, to Rs 90,538.72 per kl in the national capital, according to state-owned fuel retailers. The hike comes after two rounds of reduction that had taken the rates to their lowest this year. ATF price on October 1 was cut by 6.3 per cent (Rs 5,883 per kl) and by Rs 4,495.5 per kl, or 4.58 per cent on September 1. The ATF rate in Mumbai was increased to Rs 84,642.91 per kl on Friday from Rs 81,866.13 previously. Oil firms also increased the price of commercial LPG by Rs 62 to Rs 1,802 per 19-kg cylinder. This is the fourth straight monthly hike in commercial LPG prices. Prices were hiked by Rs 48.5 to Rs 1,740 on October 1. Prior to that rates were increased by Rs

Engaged with FinMin over review of windfall tax: Petroleum Secretary

Petrol, diesel pump prices may be reduced by OMCs if global crude oil prices remain low

Commercial LPG rate up by Rs 6.5 per cylinder, jet fuel price hiked 2%

Jet fuel, or ATF price, on Thursday was hiked 2 per cent and the rate of commercial LPG used by hotels and restaurants by Rs 6.5 per 19-kg cylinder in the monthly revision done in line with international oil price trends. Aviation turbine fuel (ATF) price was hiked Rs 1,827.34 per kilolitre, or 1.9 per cent, to Rs 97,975.72 per kl in the national capital, according to a price notification of state-owned fuel retailers. This is second straight monthly increase in jet fuel rates. ATF prices were on July 1 hiked by 1.2 per cent (Rs 1,179.37 per kl). That increase followed a steep 6.5 per cent (Rs 6,673.87 per kl) reduction effected on June 1. The ATF rate in Mumbai was increased to Rs 91,650.34 per kl on Thursday from Rs 89,908.31 previously. Prices differ from state to state depending on the incidence of local taxes. Alongside, oil firms increased the price of commercial LPG by Rs 6.5 to Rs 1,652.50 per 19-kg cylinder. The increase follows four monthly price reductions, the last on

India's July diesel, ATF exports to S'pore, Australia to hit 2.5-yr high

Jump in middle distillates exports from swing supplier India to the Asia Pacific will likely cap prices and refiners' margins in the region