Airline industry is in 'great stress', says SpiceJet chief
Updated : August 28, 2018 08:28 AM IST
His comments come against the backdrop of high crude oil prices hurting the airline industry as Aviation Turbine Fuel (ATF) alone accounts for over 40 percent of a carrier's operational costs.
On why airlines are not able to increase fares, the SpiceJet chairman and managing director said it has all happened at a time when the season is a little weak.
Currently, Singh said that there needs to be at least "10-15 percent increase in yields to cover existing costs".
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