Cabinet Approves Price Stabilization Fund for Airlines Amid Fuel Volatility
The Union Cabinet, led by Prime Minister Narendra Modi, has sanctioned a price stabilization fund of up to Rs.10,000 crore for Oil Marketing Companies to stabilize Aviation Turbine Fuel (ATF) costs faced by Indian airlines due to West Asia's ongoing crisis. The initiative involves interest-free advances, fixed ATF pricing, and a recovery mechanism, aiming to shield air connectivity and manage fare volatility.
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