Airlines in India have continuously blamed the price of jet fuel for their losses. And with Singapore Airlines latest quarterly results showing a 53% drop in profits on the back of high jet fuel prices, I’d sure believe them now! Aviation fuel taxes are a state subject in India, and some states charge up to 40% tax on jet fuel, considering it a luxury to fly and making it pricier. That, added to the high price of fuel already, took airlines to the brink. Kingfisher Airlines, in the throes of pain, asked for a concession from the government to be able to buy and import its own jetfuel from outside India. Looks like the politicos decided to have some fun with…
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