India’s major airlines on ‘verge of closing down’ as high fuel costs sting

India’s major airlines warned of a potential suspension in services unless the government lowered jet fuel prices. “The airline industry in India is under extreme stress and on the verge of closing down or of stopping its operations,” the Federation of Indian Airlines, representing carriers including IndiGo, Air India and SpiceJet, said in a letter to India’s Civil Aviation Ministry, seen by Bloomberg. They sought a return to pandemic-era cost caps on aviation turbine fuel and a reduction or...

By Bloomberg