Jet Airways chairman Naresh Goyal has said that the aviation industry in the country cannot survive under such heavy tax burden from the government.

He pointed out that no other country in the world imposes a service tax on airlines. He was speaking on the sidelines of the annual general meeting of the IATA in Beijing.

"Aviation is part of the country's infrastructure. Indian domestic fares are almost 300% higher as compared to others. Chinese airlines, for example, don't have fuel taxes. The fares in China are a third of that in India," Mr. Goyal said.

He said that the company has not spoken to anyone but the foreign airlines might approach Jet Airways for investment opportunities. He also rubbished rumors that he is being engaged by foreign airlines for possible investments as the country's government moves to allow foreign direct investment by foreign airlines in the country.

The aviation firms in the country are likely to post losses to the tune of Rs 10,000 crore collectively in the financial year 2012, according to country's aviation minister Ajit Singh.