Air fares to India have been slashed by up to 40% because of low demand, media reports say. The fares have been cut mainly in the US/UK to India sectors.
United Airlines and Malaysian Airline System now offer return fares to New York and San Francisco for around Rs 35,000, down from around Rs 50,000 last year.
Virgin, British Airways and Air India have cut their London return fares to between Rs 18-20,000, down from Rs 30,000 last year.
The low demand has been triggered by many factors, such as the Gujarat earthquake, the slowdown in the US economy and the uncertainty in the Indian stock market.
Further, the number of seats on flights has gone up, because of the increase in the number of flights, and the entry of new airlines into the market.
- nriol.com report
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