Cabinet approves ₹10,000 crore ATF price stabilisation fund to shield airlines, jet fuel prices

The government has approved a ₹10,000 crore ATF (Aviation Turbine Fuel) price stabilisation fund to help shield airlines from soaring jet fuel costs, which have led to a reduction in daily flights by Air India and Indigo. This move aims to prevent further increases in airfares and provide much-needed relief to the aviation industry. The fund's approval is crucial as it comes at a time when high fuel prices are causing significant operational challenges, potentially impacting the broader economy through increased travel costs and reduced connectivity.