At a time when many airlines are taking steps to save on increasing costs,

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no-frills carrier SpiceJet has announced a fresh round of low fares starting at as low as Rs 99 across its network.

"We want to encourage people to continue to fly in these hard times to close their business deals and visit their families and friends," SpiceJet Chief Commercial Officer Samyukth Sridharan said in a statement today.

SpiceJet's step comes even as the civil aviation industry is facing a major downturn and increased costs. In fact, not long ago many airlines have hiked their fares.

SpiceJet's special fares would be available till tickets last and bookings are open till March 2009, a statement from the airline said today.

In addition to this, the carrier is also introducing fares for Mumbai to Delhi starting at Rs 3,225, including taxes.

There has been demands for a bailout package for the airline industry, which is facing mounting losses.

To save on cost, full service airline Jet Airways and Kingfisher Airlines a few days back had formed an operational alliance. Jet even announced retrenching its 1,900 staff but immediately revoked the termination