India, June 3 -- The Union cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved a one-time budgetary support of Rs10,000 crore for Oil Marketing Companies (OMCs) to provide Aviation Turbine Fuel (ATF) price stabilisation support to Indian airlines for both their domestic and international operations.

"The budgetary support will be in the form of interest-free advances to OMCs through the demands for grants of the Ministry of Petroleum and Natural Gas (MoPNG). The support will be provided to OMCs to facilitate stable ATF pricing for airlines during the ongoing period of exceptional fuel price volatility arising from the West Asia crisis," the government said.

This comes at a time when the aviation sector has been impac...