Mumbai, September 28: The aviation industry has been going through a lot of turmoil lately, from reporting huge losses, delaying employee's salaries to grabbing headlines for all the wrong reasons. According to an Economic Times report, in the coming days, airlines fear that Oil Marketing Companies (OMC) will hike the aviation turbine fuel (ATF) because of the Centre's decision to impose 5 percent basic customs duty on jet fuel. Jet Airways Inflated Expenditure: IT Department Finds Evidence in Survey Carried Out at the Airline's Mumbai and Delhi Offices.

The airlines said that their operating costs have shot up due to the fall in the rupee and the rise in fuel price. However, they have not been able to increase the price of the tickets because of the fierce competition in this space. Officials quoted in the report said that if the prices are not raised now, then they may become financially drained out like Air India and Jet Airways.

Reportedly, the fear of a further increase in ATF prices sent the shares of IndiGo, Jet Airways and SpiceJet touched a new low. So it is expected that in the coming festive season, the airfares will shoot up. So if you have any travel plans, then it is better you get them booked today

(The above story first appeared on LatestLY on Sep 28, 2018 05:04 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).