NEW DELHI – Shares of domestic airlines and suffered on Monday as the price of jet fuel or Aviation Turbine Fuel was hiked by 2.75 per cent on account of hardening global oil prices.
According to a notification by state-owned fuel retailers over the weekend, ATF prices have increased by Rs 2,039.63 per kilolitre to Rs 76,062.04 per kl in Delhi.
On the National Stock Exchange, InterGlobe Aviation’s scrip was last trading 3.10 per cent lower at Rs 1,955.05 while shares of SpiceJet were down 1.3 per cent at Rs 67.25.
ATF prices had declined two times in December, primarily on account of a decline in global oil prices in the latter half of November and mid-December, reports said.
According to reports, prior to mid-November, ATF prices had risen to Rs 80,835.04 per kl. However, prices were lowered sharply on December 1 and 15 by a total of Rs 6,812.25 per kl or 8.4 per cent.
Jet fuel prices are revised on the 1st and 16th of every month, based on the average price of the international benchmark in the preceding fortnight.
InterGlobe Aviation, which operates India's largest airline IndiGo, had reported a net loss of Rs 1,435.7 crore for the quarter ended September 2021 as against a net loss of Rs 1,194.8 crore in the year-ago quarter.
Fuel costs in the quarter spiked 207.8 per cent YoY to Rs 1,989.4 crore as global crude oil prices soared over the past few months. Even other costs excluding fuel rose by 46.6 per cent on-year to Rs 5,245 crore.
For the quarter under review, Spice Jet had reported a net loss of Rs 562 crore as against a net loss of Rs 112.5 crore in the year-ago quarter. The net loss posted by the company was largely on account of a sharp rise in operating costs in the quarter driven mainly by fuel expenses.
According to a notification by state-owned fuel retailers over the weekend, ATF prices have increased by Rs 2,039.63 per kilolitre to Rs 76,062.04 per kl in Delhi.
On the National Stock Exchange, InterGlobe Aviation’s scrip was last trading 3.10 per cent lower at Rs 1,955.05 while shares of SpiceJet were down 1.3 per cent at Rs 67.25.
ATF prices had declined two times in December, primarily on account of a decline in global oil prices in the latter half of November and mid-December, reports said.
According to reports, prior to mid-November, ATF prices had risen to Rs 80,835.04 per kl. However, prices were lowered sharply on December 1 and 15 by a total of Rs 6,812.25 per kl or 8.4 per cent.
Jet fuel prices are revised on the 1st and 16th of every month, based on the average price of the international benchmark in the preceding fortnight.
InterGlobe Aviation, which operates India's largest airline IndiGo, had reported a net loss of Rs 1,435.7 crore for the quarter ended September 2021 as against a net loss of Rs 1,194.8 crore in the year-ago quarter.
Fuel costs in the quarter spiked 207.8 per cent YoY to Rs 1,989.4 crore as global crude oil prices soared over the past few months. Even other costs excluding fuel rose by 46.6 per cent on-year to Rs 5,245 crore.
For the quarter under review, Spice Jet had reported a net loss of Rs 562 crore as against a net loss of Rs 112.5 crore in the year-ago quarter. The net loss posted by the company was largely on account of a sharp rise in operating costs in the quarter driven mainly by fuel expenses.
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