New Delhi, 06 October (H.S.): Union Civil Aviation Minister K. Ram Mohan Naidu said on Tuesday that the ministry was in discussions with airlines and oil companies over elevated aviation fuel prices amid the ongoing crisis in West Asia.

Speaking on the sidelines of a conference organised by the Indian Foundation for Quality Management (IFQM) in New Delhi, Naidu said India could receive its first indigenously developed civilian aircraft within two years through a joint venture.

“One of the most important concerns is the extent to which the West Asia crisis is putting pressure on ATF prices. We are in discussions with airlines and oil marketing companies (OMCs),” Naidu said.

The Civil Aviation Minister expressed hope that India would develop its first indigenous civilian aircraft within two years through the proposed joint venture. He also said the government would explore the possibility of manufacturing jet engines in the country, although he acknowledged that it would be a long-term process.

Earlier, IndiGo, the country’s largest airline, announced on Monday that it would increase the fuel surcharge on domestic and international flights amid rising aviation fuel prices. The airline said that aviation turbine fuel (ATF) prices had remained volatile in recent months, particularly following the geopolitical situation in West Asia.

According to the airline, aviation fuel prices have risen steadily, with the latest monthly increase exceeding around 14 per cent. This has pushed ATF costs to among their highest levels in the past decade.

The rising cost of aviation turbine fuel has also placed financial pressure on airlines. ATF accounts for around 40 per cent of an airline’s operating costs.

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Hindusthan Samachar / Jun Sarkar