From correspondents in Delhi, India, 03:50 PM IST

Indian low cost carrier SpiceJet does not rule out increasing its fares by Rs.300, joining Jet Airways and Kingfisher.

'We are currently evaluating if we need to increase our airfares. If we decide to increase, it will be in the range of Rs.200-Rs.300,' SpiceJet chief executive Sanjay Aggarwal told reporters on the sidelines of the India Tourism Conclave here.

'The number of passengers has increased and we are also considering increasing the flight frequency with our existing aircraft. We are evaluating when and where to increase the frequency,' Aggarwal said.

SpiceJet Tuesday announced a 'return fare' scheme that offers discounts by up to Rs.500 on return bookings. Tickets under the scheme are available in all sectors where SpiceJet operates and bookings can be done for travel up to Oct 25.

The promotional offer will continue even if the surcharge is increased.

Last week, leading private carriers Jet Airways and Kingfisher Airlines hiked fuel surcharges by up to Rs.300 after state-run oil companies increased aviation fuel prices three times in one-and-a-half months.

SpiceJet - with 19 aircraft in its fleet - has a market share of 12 percent.

(Staff Writer, © IANS)