New Delhi, March 10 -- Ajay Singh, the chairman and managing director of SpiceJet, cautioned that Indian carriers might have to reassess their growth plans as crude oil prices remain excessively high, even at $90 per barrel.

"We don't know where things are really going," Singh said, according to Bloomberg. He noted that domestic airfares are unlikely to remain stable, as airlines will likely have no option but to introduce a "fuel surcharge".

Indian carriers have already raised ticket prices on long-haul routes by about 15%, the report said. Singh noted that airlines will need to pass on some of the increased costs to passengers, despite the strong price sensitivity of the Indian market, suggesting that domestic fares could also rise. ...