National air-carrier, Air India today slashed its basic air fares in the domestic sectors ranging 35-82 per cent.

The fare cut was effective from 1500 hours on Tuesday, an Air India spokesperson said.

The maximum reduction in fares was 82 per cent on the Chennai-Bangalore route, while on Mumbai-Kolkata route, the reduction would be 35 per cent, Air India said.

The basic fare for travel between Mumbai and Delhi now stands reduced by 49 per cent, the company said.

The fare cut has come a day after Air India's competitor and private air carrier, Jet Airways reduced its basic fares upto 40 per cent.

Another leading private air carrier, Kingfisher Airlines, had also announced reduction in its fares from January 1.    

However, Kingfisher is yet to take a decision on the quantum of the cut.