Boeing India president Dinesh A Keskar today called for the urgent need to reprice airfares saying the industry is losing a whopping Rs 900 per ticket currently.
Pricing cannot go on the way it is now. Domestic airlines lose Rs 900 a ticket on an average today. With fuel prices going the way they do,it is high time that the airlines end the current practice of predatory pricing. They need to hike fares by a reasonable amount in order to sustain, Keskar said on the sidelines of the India Chapter of the World Economic Forum.
Pointing out that when crude was trading at $75-80 a barrel,airlines were making only negligible profits,Keskar said. And now with crude at over $110 a barrel,one can imagine the loses the airlines are making. Keskar said,despite all these travails,he is optimistic that the industry offers tremendous growth opportunities.