Airfares hiked after grounding of Boeing 737 Max 8 aircrafts |
Air fares in India are shooting fast, as a fresh round of cancellations on account of the ban on Boeing 737 MAX 8 aircraft went up on wednesday. Approximately 150 flights are being cancelled per day. Ticket booking websites put the average jump in fares at 40-50%, with some sectors recording as much as a 100% spike in last-minute ticket prices. For the Indian aviation sector, which is already suffering from the Jet Airways internal crisis, the coming summer vacations is going to be a real test. Jet Airways, the second largest airline by market share, is reeling from a liquidity crunch that forced it to ground more than 40 aircrafts, which translate to at least 100 flights. The crisis is expected to worsen with the grounding of 13 Spicejet Boeing 737 MAX 8 aircraft. IndiGo is already short on pilots and had announced that it will be cancelling 30 flights a day till March 31. As the aviation Industry is grappling for some respite, global aircraft manufacturer Boeing has recommended a temporary suspension of its entire world fleet of the 737 MAX aircraft. The move comes after several countries, including India, China, European Union and the United States banned the use of the aircraft in wake of the Ethiopian Airlines crash that killed all 157 people on board.
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