April 19, 2012
India's Kingfisher Airlines has begun the process of importing aviation fuel, the company said, in a move that could help the cash-strapped carrier bring down its fuel bill.
"Kingfisher Airlines has received authorisation from the Director General of Foreign Trade for the import of aviation turbine fuel (ATF) on 11th April, 2012 and we are taking active steps to initiate the process of ATF import," the company said in a statement.
India in February formally allowed local airlines to import jet fuel directly, in a bid to bring down costs for carriers in a country where the fuel is more than 50 percent costlier than the global average, mostly due to local taxes.
