Air India and SpiceJet hike airfares

Air India and SpiceJet have announced that they are hiking the fares of air tickets.

The prices are being increased by at least Rs 300 per ticket.

The airline companies said that they have no option but to raise the prices due to the increase in the price of the aviation turbine fuel.

Airline companies in India are said to be going to post a collective loss of Rs 8,000 crore in fiscal 2008-09.

Not only the aviation fuel has become more expensive… the government earlier this month increased the price of petrol, diesel and LPG considerably.