SpiceJet gets DGFT nod for jet fuel import

The airline is presently negotiating with leading oil marketing companies and is hopeful to start importing fuel in due course,it said.

8220;The Airline sector will benefit from direct imports of fuel due to high ATF prices in India and we are hopeful to commence the import of fuel in due course,8221; SpiceJet Airline8217;s chief executive Neil Mills said.

The direct import of jet fuel at comparatively lower

price would help the airline to considerably bring down its

operational cost,he added.

Airline8217;s fuel bill had jumped by 90 per cent in the quarter ending December 2011 over the same period of fiscal 2011.

8220;Aircraft fuel expenses were 90 per cent higher than the same period last year and fuel cost as a proportion constituted 50 per cent of the total revenue in October-December 2011 quarter as compared to 37 per cent in the comparable quarter for the fiscal 2011,8221; the airline had said in its Q3 financial statement.