A day after civil aviation minister Ajit Singh highlighted how the ailing Air India (AI) was being further dealt a blow with the rising cost of air turbine fuel (ATF), there are reports that AI is planning to directly import ATF instead of taking it from Indian companies.
According to sources, AI is expected to save Rs300 crores annually with this move.
According to a senior AI official, applying to the directorate general of foreign trade (DGFT) for permission.
The move follows a February decision by the finance minister Pranab Mukerjee-led empowered group of ministers (EGoM) to permit domestic airlines to import jet fuel directly from abroad.
According to the official, even after the airline gets the clearance, it will still take some months before the airline can actually get its hands on the imported fuel.
The official said that the whole procedure would require nearly five-six agreements before the final fuel import structure will become clear.
Currently, the domestic ATF being sold in India
The high cost of jet fuel also prompted Ajit Singh to meet Mukherjee and petroleum minister S Jaipal Reddy to discuss the issue of rationalisation of ATF.
http://www.dnaindia.com/india/report_air-india-planning-direct-fuel-import_1699603
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