Geneva - Air traffic continued to contract in October, statistics released Thursday showed, marking the second consecutive month of global decline.
In September, global air traffic contracted by 2.9 per cent compared to the previous year, while in October the drop was slightly less drastic, standing at 1.3 per cent when compared to the same month in 2007, according to the International Air Transport Association.
International air freight traffic dropped by 7.9 per cent in October, the fifth consecutive month of such contractions.
"The situation of the industry remains critical," said Giovanni Bisignani, the director of the IATA, which says it represents 93 percent of scheduled international air traffic.
Dr. Vijay Mallya, Chairman & CEO, Kingfisher Airlines Limited has said that Kingfisher will immediately reduce airfares across the board as soon as the declared goods classification is approved for Aviation Turbine Fuel (ATF). Also, Kingfisher will ensure that there are no loss of jobs.
With a fleet of 85 aircrafts, Kingfisher believes that it should make travel affordable to all Indians from different socio-economic classes.
Mallya was responding to the Finance Minister P Chidambaram's announcement to introduce a bill during the forthcoming Parliament session to bring ATF under the declared goods category.
Kingfisher Airlines Ltd has announced that it would reduce airfares as soon as the Indian government incorporates aviation turbine fuel (ATF) in the declared goods category.
"Kingfisher will immediately reduce airfares across the board as soon as the declared goods classification is approved for ATF," Chairman Vijay Mallya said in a statement late on Monday.
Mallya also declared that there will be no job cuts.
Airways, Kingfisher and Air India have decided not to levy any transaction fee on air tickets from tomorrow. It would result in cheap air tickets from the airline office or website but customers have to pay Rs 350-Rs 10,000 more if they purchase tickets from travel agent. The representatives of all leading air carrier held a meeting with Travel Agents Federation of India (TAFI) and apprised them about the decision.
Civil Aviation Minister Praful Patel on Saturday asked the Airline industry to cut air fares for making air travel cheaper in the country. The government has helped the industry and it is waiting for positive response from the aviation companies.
India's largest private airline, Jet Airways is thinking to reduce salaries and perks of its top management in line with its cost cutting measures. Earlier, few days before Diwali, it had decided to lay-off staff, following international credit crisis and loss booked by the airline due to high fuel costs and lower sales.
However, the company had to roll back its decision, following pressure from the government and politicians, who came for help of sacked employees.
Dr. Vijay Mallya, Chairman & CEO, Kingfisher Airlines Limited has said that Kingfisher will immediately reduce airfares across the board as soon as the declared goods classification is approved for Aviation Turbine Fuel (ATF). Also, Kingfisher will ensure that there are no loss of jobs. 
Kingfisher Airlines Ltd has announced that it would reduce airfares as soon as the Indian government incorporates aviation turbine fuel (ATF) in the declared goods category.
Airways, Kingfisher and Air India have decided not to levy any transaction fee on air tickets from tomorrow. It would result in cheap air tickets from the airline office or website but customers have to pay Rs 350-Rs 10,000 more if they purchase tickets from travel agent. The representatives of all leading air carrier held a meeting with Travel Agents Federation of India (TAFI) and apprised them about the decision.
Civil Aviation Minister Praful Patel on Saturday asked the Airline industry to cut air fares for making air travel cheaper in the country. The government has helped the industry and it is waiting for positive response from the aviation companies. 
India's largest private airline, Jet Airways is thinking to reduce salaries and perks of its top management in line with its cost cutting measures. Earlier, few days before Diwali, it had decided to lay-off staff, following international credit crisis and loss booked by the airline due to high fuel costs and lower sales. 
