Claiming that the ATF taxes are unsustainable, the private airliners like Jet Airways and Kingfisher airways came together on Friday, Jul 31 to make a plea for bailout.
"We are bleeding today-we need help to sustain," Jet Airways chief Naresh Goyal said in the press conference.
Maintaining the above argument, Kingfisher Airlines chairman Vijay Mallya said that it costs less to not fly than to fly. He added that if aid was not given soon, then the private airlines will be forced to suspend operations indefinitely starting from Aug 18.
The FIA announced that the passengers who have booked tickets for the Aug 18 flights will be refunded.
The international flights will not be affected by this strike.
The global economic slowdown along with the raging prices of jet fuel affected the Indian aviation industry adversely. The aviation industry has suffered a loss of Rs. 10,000 crore due to the slump.