IndiGo Airlines, the country's largest airline, has announced that it is preparing to increase flight ticket prices in the face of a sharp increase in operating costs. The company also warned that the fare hike may affect the number of passengers. The setback was the high fuel prices due to the war in the Middle East and the disruption of flight services. Increase in fuel surcharge IndiGo had already imposed a fuel surcharge ranging from Rs 425 to Rs 2,300 to meet the rising operating costs. Ticket prices may have to be increased further in the coming days. Fuel accounts for about 40 percent of the total operating costs in the aviation sector. Apart from fuel prices, changes in foreign exchange rates are also posing a challenge for the company. Ticket price cap removed Meanwhile, the government has withdrawn the price cap imposed on domestic flight tickets. With this, companies will be able to set prices according to market conditions. The maximum limit that could be charged for one-way economy tickets was around Rs 18,000, depending on the distance. However, the Union Civil Aviation Ministry has made it clear that strict action will be taken if there is an unnecessary increase in fares.