Business Standard
India setting up the ATF price stabilisation fund is a very good solution to address the problem of higher jet fuel costs being faced by the domestic airlines, a senior IATA executive has said. While mentioning that the current jet fuel scenario globally is unprecedented in terms of the cost impact, Hemant Mistry, Director Energy Transition at IATA, cautioned that if the situation continues, there would have to be more flight reductions. The International Air Transport Association (IATA) represents over 370 airlines, including Air India, IndiGo, Air India Express and SpiceJet. The grouping accounts for around 85 per cent of the global air traffic. Mistry said the jet fuel situation in terms of cost impact is unprecedented. "If the situation continues, there will have to be more demand destruction... that is the only way to manage the situation, it is an extreme situation," he told PTI. Demand destruction broadly refers to a reduction in flights amid rising operational costs, drive
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