Mumbai, Jun 4 (UNI) The aviation sector in the country has suffered a staggering loss of Rs 4,000 crore in the last fiscal year, ended on March 31, 2008.
Civil Aviation sources here said the hike in petroleum products would double the loss in the current financial year.
Oil prices are at all-time high and airline operators are finding it difficult to make both ends meet, the sources said.
The Ministry has urged the airlines operators to submit a detailed report to Civil Aviation Minister Praful Patel, which will be forwarded to Prime Minister Manmohan Singh and Finance Minister P Chidambaram.
The airlines had earlier hiked air fares by Rs 350 and upwards, following an increase in surcharge on Aviation Turbine Fuel (ATF), the sources added.
UNI ST RN RL ND2004