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Citing a rise in the cost of jet fuel and the depreciation of the rupee, SpiceJet has said a minimum of 10-15 per cent hike would be required to ensure that costs of operations are better sustained.” Ajay Singh, Chairman and Managing Director, SpiceJet in a statement said, "The weakening of the Indian rupee against the US dollar further significantly impacts airlines as our substantial cost is either dollar-denominated or pegged to the dollar. The sharp increase in jet fuel prices and the depreciation of the rupee have left domestic airlines with little choice but to immediately raise fares and we believe that a minimum 10-15% increase in fares is required to ensure that cost of operations are better sustained.”
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