Mumbai, Dec. 28 (PTI): Jet Airways and Kingfisher have announced a reduction in fares following a steep fall in aviation turbine fuel prices.

While Jet Airways said it was reducing air fares by 15-40 per cent from tomorrow, Kingfisher Airlines said it would effect fare cuts across its network from January 1.

“Jet Airways is reducing basic fares ranging from 15-40 per cent across most of the domestic flights with effect from tomorrow,” a company spokesperson said. The fare cut will be across all domestic sectors, he said.

Civil aviation minister Praful Patel had repeatedly asked the airlines to pass on the benefit of sharp a drop in ATF prices to passengers.

“Kingfisher Airlines will begin the New Year on an aggressive note by slashing fares on its network,” Kingfisher Airlines chairman Vijay Mallya said.

He, however, did not specify the amount by which fares would come down.

According to Mallya, the low price of ATF allows Kingfisher to increase market share by offering five-star flying experience at reduced fares.

Earlier, Kingfisher had said that it would reduce fares only after the government brought ATF under the declared goods category.

Air India plan

Air India can also announce a cut in base fares on its domestic routes from the middle of January, official sources said.

Sources said the commercial department of Air India was already working on reducing the fares and could make an announcement in the first week of January. The revised fare will be effective from the middle of the month.