Mumbai: Airfares are likely to become cheaper from June 15 following introduction of "super apex fares" by the domestic airlines.

"The new fares are to stimulate growth and improve the bottom-line of the airline and aimed at carving a new market," Jet Airways chairman Ramesh Goyal told reporters on May 5.

"The apex fares introduced in 2002 had helped to create a market by itself or else we would have gone down by 8-9 per cent," he said adding the new fares were aimed at new customers who travel by road and rail.

He said it was necessary for government to reduce route and navigation charges as suggested by International Air Transport Association (IATA) to help the airline industry, otherwise the industry would turn sick.

A civil aviation ministry appointed committee was looking at this proposal to lower charges and was expected to submit its report shortly, he said.

"There is need for government to take a serious look at the aviation sector before it becomes unviable like the many carriers in Europe and the US," he said.

Referring to the Sahib Singh Verma episode, he said the enquiry was still on and "we will be standing by our employees".

Asked if Jet was planning an IPO (initial public offer) or a private placement, Goyal said the proposal would be considered only after two years as the industry was going through one of its worst phases.

PTI