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ATF price cut by 2.7% on falling international rates:
ATF price was reduced by 2.7 pc as falling international rates brought down rates from a four-year high.
After two successive monthly price hikes, this price-cut may bring relief for aviation firms as aircraft fuel forms around 35 to 40 percent of total expenses. Simultaneously oil companies increased the price of subsidized Liquefied Petroleum Gas (LPG) by Rs. 2.71 per cylinder to Rs 496.3.
ATF or jet fuel was decreased by Rs 1,942 per kilolitre, or 2.7 percent, to Rs 68,086 per kl in the National Capital, as per state-owned oil companies.
Followed by this development, however, the stocks of aviation companies such as Interglobe Aviation Ltd (Indigo), Spice Jet and Jet Airways were though opened on positive note on Monday, but due to falling broad market indices, subsequently the stock of these companies have ended lower by 3.81%, 1.56% and 1.33% respectively in trade on Monday, 2 July 2018.
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