The Centre on Wednesday approved a one-time budgetary support of Rs 10,000 crore to oil marketing companies for the stabilisation of aviation turbine fuel (ATF) prices to help tackle the economic challenges posed by the West Asia conflict.
According to the government, the interest-free budgetary support will help the oil marketing companies to provide ATF price stabilisation to Indian airlines for domestic and international operations.
Announcing the decision, I&B Minister Ashwini Vaishnaw said the budgetary support will help airlines in the backdrop of a rise in prices of the ATF, also due to the closure of airspace by Pakistan after the 2025 Pahalgam terror attack.
The move came as Indian airlines announced cutting down of its international sevices and increased prices amid surging fuel prices due to the economic impact of the ongoing West Asia conflict.
(With inputs from PTI)