Fuel import: Mallya's Kingfisher gets weapon to check crisis

New Delhi, Apr 19: Vijay Mallya may soon see the good times again as Kingfisher Airlines finally get a weapon with which the airline can check its crisis. The airline on Thursday, Apr 19 began its jet fuel import process which, according to experts, could help the cash-strapped carrier bring down its fuel bill.

Delivering a statement over the issue of jet fuel import, the company spokesperson said, "Kingfisher Airlines has received authorisation from the Director General of Foreign Trade for the import of aviation turbine fuel on 11th April, 2012 and we are taking active steps to initiate the process of ATF (aviation turbine fuel) import."

Earlier in Feb 2012, local airlines received permission from Indian government to import jet fuel directly. The central government's permission helped the local airlines to bring down costs for carriers in a country where the fuel is more than 50 percent costlier than the global average.

OneIndia News