Airports Authority of India to form JV for jet fuel supply

Three-way joint venture to include Reliance Industries and expected to reduce fuel costs by 10%

Airports Authority of India (AAI) will form a joint venture with local airlines and oil companies to supply jet fuel to carriers and Reliance Industries will be a part of it, its chairman V.P. Agrawal said on Tuesday.

The supply of jet fuel to carriers through the three-way joint venture is expected to reduce fuel costs of local carriers by at least 10 percent, Agrawal told reporters on the sidelines of an aviation conference.

AAI will own a 13 percent stake in the joint venture and the rest will be held by the oil companies and airlines, he said.