Cabinet approves Rs 10,000 crore for ATF price stabilization fund
The Union Cabinet on Wednesday approved the setting up of an ATF Price Stabilisation Fund with a corpus of Rs 10,000 crore, as surging aviation turbine fuel prices, driven by the ongoing West Asia crisis continue to weigh on the aviation sector.
Announcing the decision, Union Minister Ashwini Vaishnaw said ATF prices have risen sharply due to the conflict in West Asia and that the fund is aimed at cushioning the impact on airlines and passengers.
Announcing the decision, Union Minister Ashwini Vaishnaw said ATF prices have risen sharply due to the conflict in West Asia and that the fund is aimed at cushioning the impact on airlines and passengers.
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