Budget airlines may cut fares to spur travel
High fares but fewer passengers is not a recipe that’s working for budget airlines. With crude prices coming off 22 per cent from their peak to around $115 a barrel, some airlines are now ready for fare cuts. While commenting on reduction in airfares, Ajay Singh, Director of SpiceJet, said the low cost airlines may revise airfares downward by 15 per cent from September 1.
