'The other issues primarily relate to the slowdown in the economy, global and domestic, and the impact of high prices of aviation turbine fuel in 2008-09,' the minister said.

Apart from a cut in sales tax on fuel, the private carriers have asked the government to direct oil retailers to sell aviation jet fuel cheaper and reduce the airport charges which they say have ballooned ever since private players were allowed into the field.

'Aviation fuel prices in India are among the highest in the world,' said Anil Baijal, secretary general of the federation, adding this alone accounted for 30-40 percent of an airline's operational costs.

The private carriers owe nearly $500 million towards fuel to oil companies. Baijal said that the accumulated losses of private carriers amounted to nearly $2 billion.

Thus far, the civil aviation ministry has ruled out any bailout package for the aviation industry, even though moves are afoot to help the national carrier tide over one of its worst crises.

The opposition parties, including the Left front and the Bharatiya Janata Party (BJP), have also said that a bailout package from the government would not be desirable.