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India will remove the fare caps it imposed on domestic airlines in 2020 during the pandemic on Aug. 31, the country’s civil aviation ministry said on Wednesday, lifting restrictions on ticket prices.
The government, in a rare move, had regulated fares by imposing a minimum and maximum band based on the flight’s duration to prevent ticket prices from spiking due to pent-up demand arising from an easing of restrictions on air travel.
— DGCA (@DGCAIndia) August 10, 2022
“The decision to remove air fare caps has been taken after careful analysis of daily demand and prices of air turbine fuel. Stabilisation has set in and we are certain that the sector is poised for growth in domestic traffic in the near future,” said Aviation Minister Jyotiraditya Scindia.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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