Indian carriers approved to import jet fuel

The Indian Directorate General of Foreign Trade have approved Kingfisher Airlines, SpiceJet and IndiGo to import jet fuel from foreign sources. Air India has yet to receive permission. Three Indian carriers would together import almost 13 lakh kilo litres of the fuel at a cost of about Rs5,780 crore for the present. The move will help the airlines to significantly cut their operating costs. The three carriers have been negotiating with leading oil marketing companies and were hopeful of beginning fuel imports in due course, a source said.