Business

“Competition Led To 30% Airfare Drop In India”

News World India | 0
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| February 18 , 2017 , 14:58 IST
AIRPLANEThe Union Civil Aviation Ministry's role in ensuring competition between commercial airline companies, along with fall in oil prices globally, led to a drop in air fares by as much as 30 per cent, a minister said on Saturday. "If we are looking at the country as a whole, then average airfares have actually fallen by 30 per cent," Union Minister for Civil Aviation Ashok Gajapathi Raju said on Saturday. ALSO READ: DGCA Temporarily Suspends Air India Operations Head’s Licence "Now, a large part of that is due to fall in oil prices, but the significant part of that is also due to increase of competition and that is where the Ministry comes," Raju said at a press conference at a resort in South Goa's Benaulim village, about 50 kms from Panaji. ALSO READ: Tail Of Jet Airways Plane Hits Runway On Landing, Passengers Safe "But the Ministry has a lot of role in ensuring competition and as all of us know, wherever there is good competition, the benefit will then pass on to the flying public and I am happy to tell you 30 per cent reduction in average air fares in the last two years," Raju also said.