Shares of three aviation firms rose after state-owned oil marketing companies cut jet fuel prices recently, the third straight reduction in rates since April 2012
SpiceJet up 4.24%, Jet Airways (India) up 2.31% and Kingfisher Airlines up 0.77%
Jet fuel, or aviation turbine fuel ( ATF) price in Delhi was reduced by Rs272.76 per kilolitre (kl), or 0.4% to Rs67,046.95 per kl with effect from May 16, 2012. The reduction comes on back of Rs311.74 a kl cut in rates effected from May 01, 2012 and a Rs169.3 per kl price reduction on April 16, 2012.
ATF typically makes up for 50% of an airlines' operating cost. ATF prices vary from airport to airport, depending on the local sales tax or VAT. State-run oil marketing companies -- Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation revise jet fuel prices on the 1st and 16th of every month based on the average international crude price in the preceding fortnight.
....more info
SpiceJet up 4.24%, Jet Airways (India) up 2.31% and Kingfisher Airlines up 0.77%
Jet fuel, or aviation turbine fuel ( ATF) price in Delhi was reduced by Rs272.76 per kilolitre (kl), or 0.4% to Rs67,046.95 per kl with effect from May 16, 2012. The reduction comes on back of Rs311.74 a kl cut in rates effected from May 01, 2012 and a Rs169.3 per kl price reduction on April 16, 2012.
ATF typically makes up for 50% of an airlines' operating cost. ATF prices vary from airport to airport, depending on the local sales tax or VAT. State-run oil marketing companies -- Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation revise jet fuel prices on the 1st and 16th of every month based on the average international crude price in the preceding fortnight.
....more info