Mumbai-based Global Vectra Helicorp, Country’s largest private sector offshore helicopter company, has entered into a two-year aviation turbine fuel (ATF) contract with Reliance Industries and ONGC to hedge its jet fuel purchases.
The Reserve Bank of India (RBI) had allowed the Indian aviation industry to hedge their ATF price risks as early as May 2007, when crude prices were trading at nearly $70 per barrel.
In the last eight months, crude prices have risen by over 70% to around $135 per barrel.
Of the global population of around 25,000 helicopters, around 200 helicopters are operating in India, of which 150 are in the non-scheduled segment.
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