SpiceJet has received approval from the Director-General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, Government of India, for importing aviation turbine fuel (ATF) directly from overseas market.
The airline is negotiating with leading oil marketing companies for imports, the company said.
“The airline sector will benefit from direct imports of fuel due to high ATF prices in India and we hope to commence the import of fuel in due course. Importing fuel from overseas market at comparatively lower price would help us to considerably bring down our operational cost,” SpiceJet Ltd Chief Executive Officer, Mr Neil Mills, said.
SpiceJet Ltd is the first airline in the country to apply for approval for import of ATF and to get clearance for the same.