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State-owned oil firms have marginally hiked jet fuel prices by an average Rs 158 a kilolitre. With this move, Aviation Turbine Fuel (ATF) will cost Rs 27,275 a kilolitre in Delhi from Sunday midnight as against Rs 27,106 earlier.

In Mumbai, ATF prices will go up to Rs 28,023/ kilolitre, from Rs 27,861, an Indian Oil Corporation (IOC) official said.

This is the second time since September last year that the public sector oil firms have raised ATF prices. They had earlier raised prices by 3.3 per cent on January 16. The jet fuel prices had peaked to Rs 71,028.26 a kilolitre in Delhi in August 2008 after crude oil prices touched a high of $147 a barrel in the international market.

IOC, HPCL and BPCL revise ATF rates on the 1st and 16th of every month based on the average international jet fuel prices in the preceding fortnight.

Source: Businessline dated 16-03-2009

Indian Market News, news Airlines, airways, Jet fuel, Jets

Shares of Jet Airways zoomed 6.8 per cent after India’s top private carrier posted an unexpected net profit of Rs 143 crore in the June quarter, beating market expectations of a net loss of Rs 377 crore.

The relentless rise in jet fuel prices since April had badly hit all airlines with the losses as high as Rs 10 crore daily for major players and the April-June quarter was expected to see huge losses.

However, enhanced revenues from its international operations and a change in accounting policy on depreciation helped the private air-carrier post a good set of numbers in the period, analysts said.

Indian Market News, Results, news airways, Fuel prices, Jet Airways, Jet Airways results, Quarter results