(Image source from: Air fares to touch record high next month})

Get ready to shell out more for your air tickets next month onwards as fares are all set to hit through the roof.

Ahead of the peak travel period  that kicks off from October onwards, aviation ministry has decided to jack its tariff by a whopping 7%-25%. Blame it on the increased aviation turbine fuel (ATF) prices, the singlemost deciding factor of an airline's operating cost, air fares are likely to touch a record high.

"The July-September period is the leanest travel season of the year and at the moment, airlines are selling tickets at low fares to fill up planes. So hiking fares now may not be possible. Spot fares in the October-mid January season will be high. Expect a 25%-50% hike in spot fares in that period," said an airline official.

The only way to escape high fares in that period will be to book as early as possible. "Advance domestic fares are very reasonable as airlines want to fill planes and also generate some much-needed cash. People should book now," said Anil Kalsi, a leading Delhi-based travel agent.

AW: Suchorita Dutta