NEW DELHI, June 3 (Xinhua) -- The Indian government on Wednesday approved a one-time budgetary support of 100 billion Indian rupees (around 1.04 billion U.S. dollars) for oil marketing companies (OMCs) to provide aviation turbine fuel (ATF) price stabilization support to the country's airline companies for their domestic and international operations, according to an official statement by the federal cabinet.
Amid the ongoing Middle East crisis, long-haul passenger fares had increased substantially, even as international demand had declined and Indian airline companies had reduced or suspended services on several international routes.
The federal government's budgetary support would be provided as an interest-free advance to OMCs to support ATF price stabilization for airlines, said the official statement.
The scheme would be available to all willing Indian carriers for both domestic and international operations.
