Airlines including low-cost carriers have withdrawn all promotional fares and increased basic fares by around Rs.2,000 on several sectors from Tuesday.
The decision was taken as operators were faced with low load factors, though basic promotional fares had been as low as Rs.99 on many routes, industry sources said.
"We have discontinued our promotional fares as the response has not been very good, but people who have already bought tickets under the scheme will enjoy the benefit," said an Air India spokesperson here.
The spokesperson of private carrier Kingfisher Airlines said: "We have closed low fare buckets and are concentrating on setting higher fare buckets. Our focus is on revenue and not seat factors."
Agencies
Showing posts with label increase. Show all posts
Showing posts with label increase. Show all posts
Tuesday, February 10, 2009
Sunday, January 4, 2009
Will US debt increase by $2 trillion in 2009?
The US national debt is expected to jump by as much as $2 trillion this year, thus putting more pressure on the American economy, a leading daily here said.
At present, the country's debt stands at nearly $10.7 trillion. Of this $3 trillion is held by foreign investors , with China ($652.9 billion) and Japan ($585.5 billion) being the top two creditors.
The soaring national debt would saddle taxpayers with huge new interest payments for years to come, the Washington Post said.
"Some analysts also worry that foreign investors, the largest United States creditors, may prove unable to absorb the skyrocketing debt, undermining confidence in the US as the bedrock of the global financial system," the Post wrote.
The newspaper said economists from across the political spectrum have endorsed the idea of going deeper into debt to combat the worst ever economic crisis since great depression of last century.
They argue that even with an increase of $2 trillion national debt, the United States is in relatively good financial shape as compared to other industrial nations.
Japan's public debt equalled 182% of its GDP in 2007 and that of Germany was 65%, the newspaper said referring to a forthcoming report by Scott Lilly, a senior fellow at the Centre for American Progress.
Even a $2 trillion increase would push the US debt to about 53 of the overall economy. This is "only a few percentage points above where it was in the early 1990s," Lilly was quoted as saying by the newspaper.
Source: Agencies
At present, the country's debt stands at nearly $10.7 trillion. Of this $3 trillion is held by foreign investors , with China ($652.9 billion) and Japan ($585.5 billion) being the top two creditors.
The soaring national debt would saddle taxpayers with huge new interest payments for years to come, the Washington Post said.
"Some analysts also worry that foreign investors, the largest United States creditors, may prove unable to absorb the skyrocketing debt, undermining confidence in the US as the bedrock of the global financial system," the Post wrote.
The newspaper said economists from across the political spectrum have endorsed the idea of going deeper into debt to combat the worst ever economic crisis since great depression of last century.
They argue that even with an increase of $2 trillion national debt, the United States is in relatively good financial shape as compared to other industrial nations.
Japan's public debt equalled 182% of its GDP in 2007 and that of Germany was 65%, the newspaper said referring to a forthcoming report by Scott Lilly, a senior fellow at the Centre for American Progress.
Even a $2 trillion increase would push the US debt to about 53 of the overall economy. This is "only a few percentage points above where it was in the early 1990s," Lilly was quoted as saying by the newspaper.
Source: Agencies
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