Jet chief Goyal meets FM
Jet Airways chief Naresh Goyal on Thursday met FM amid speculation that govt may take some steps to rationalise the high tax structure on aviation turbine fuel.
By PTI |
NEW DELHI: Jet Airways chief Naresh Goyal on Thursday met Finance Minister P Chidambaram amid speculation that government may take some steps to rationalise the high tax structure on aviation turbine fuel.
The meeting comes within days of the government allowing the crisis-ridden airline industry a grace period to pay their outstanding oil bills amounting to Rs 2,962 crore.
There were indications that the Finance Ministry may take some steps to rationalise the high tax structure on aviation turbine fuel.
The meeting between Goyal and Chidambaram came days after Civil Aviation Minister Praful Patel said the Finance Ministry would soon initiate appropriate measures on the tax side to help the airline industry.
Goyal, however, refused to say anything on his 30-minute meeting with the Finance Minister here.
A high-powered panel, headed by Cabinet Secretary K M Chandrashekhar, which is examining the problems faced by the Indian aviation industry, has suggested that partner industries, including oil, would have to work out ways and means to help the aviation sector come out of the crisis.
Indian airlines have jointly suffered an estimated loss of Rs 4,000 crore last year, which is expected to double this financial year. They jointly owe oil companies around Rs 2,800 crores.
Besides cutting their flights, Jet Airways and Kingfisher Airlines have forged an alliance for sharing of their network and resources to meet the challenge of aviation downturn.
The meeting comes within days of the government allowing the crisis-ridden airline industry a grace period to pay their outstanding oil bills amounting to Rs 2,962 crore.
There were indications that the Finance Ministry may take some steps to rationalise the high tax structure on aviation turbine fuel.
The meeting between Goyal and Chidambaram came days after Civil Aviation Minister Praful Patel said the Finance Ministry would soon initiate appropriate measures on the tax side to help the airline industry.
Goyal, however, refused to say anything on his 30-minute meeting with the Finance Minister here.
A high-powered panel, headed by Cabinet Secretary K M Chandrashekhar, which is examining the problems faced by the Indian aviation industry, has suggested that partner industries, including oil, would have to work out ways and means to help the aviation sector come out of the crisis.
ADVERTISEMENT
Indian airlines have jointly suffered an estimated loss of Rs 4,000 crore last year, which is expected to double this financial year. They jointly owe oil companies around Rs 2,800 crores.
Besides cutting their flights, Jet Airways and Kingfisher Airlines have forged an alliance for sharing of their network and resources to meet the challenge of aviation downturn.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
