India, June 3 -- The Government of India has issued a release:
The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved a one-time budgetary support of up to Rs.10,000 crore for Oil Marketing Companies (OMCs) to provide Aviation Turbine Fuel (ATF) price stabilization support to Scheduled Indian Airlines for their domestic and international operations.
The decision comes in response to the exceptional fuel price volatility arising out of the ongoing West Asia crisis, which has posed significant challenges for airlines across the world. The approved mechanism seeks to provide enhanced stability and predictability in ATF pricing for Indian carriers while ensuring continuity of air services and protecting passengers from ...