With major airlines suffering huge losses, air fares are unlikely to witness any decline despite oil companies cutting jet fuel prices for the second time in a month.

Officials of major carriers said that despite the reduction in the prices of aviation turbine fuel (ATF), the jet fuel rate remained almost 50 per cent higher than the same time last year.

The ATF prices have risen from May 2010 till April this year by over 55 per cent, they pointed out.

As some of the airlines were facing a near bankruptcy situation with very high accumulated losses, the industry was not in a position to on pass any benefit of ATF rate reduction to customers at this stage, they said.

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