Jet Airways to hike fares by 10 -15%

Jet Airways will hike fares of by 10-15% in the April-June quarter over the January-March quarter. Raj Siva Kumar, vice president, revenue management, said that the rise in crude prices and better volumes were likely to push the fares up. The airline has posted a healthy load factor of over 80% on the international rotes and around 70% on domestic routes in January-March period and is close to breakeven on the US routes. Jet plans to induct 11 aircrafts this fiscal including 737s and five ATRs. Further, the airline is also seeking clarification from the Government on issuing a qualified institutional placement (QIP), according to reports.