The promotional fares on various routes are expected to be withdrawn by the domestic carriers as a step to cash in on the festive season which is just around the corner.

From 1st October, Kingfisher airlines, owned by Vijay Mallya will bring back the off-peak season fare to its original level.

Other than this, the coming festive season will also see an increase in the fare by up to 10% by the country’s largest airline by market share, Jet Airways.

A spokesperson from Kingfisher Airlines reported, “With the advent of the festive season, the special off-peak fares that were being offered by Kingfisher Airlines will now revert back to their original levels. This will apply to basic fares and will be applicable from October 1.”

Depending upon the off-peak fares that were being offered, the intensity of hike in the fare will differ from sector to sector. However, it is being hoped that fares won’t exceed more than 5%.

On Wednesday, Wolfgang Prock-Schauer, Jet Airways CEO, “In the upcoming festive season one would try as good business man to increase fare, but one will have to look at competitive scenario. During this peak season fare should go up, but we are certainly not looking at double-digit hike.”

During the starting of this month, oil companies had reduced the fuel prices by 16% to about Rs 59,244.26 per kilolitre. However, airlines did not reduce airfare, but reduced the fuel surcharge. The airlines are of the opinion tat at this point, it won’t be a good idea for them to reduce the tariff, as any reduction in fuel price only reduces their losses. Due to the unstable fuel prices, the domestic airlines alone will lose nearly $2 billion in the current financial year.