Airline stocks gain as air travel resumes from next week

Updated:5 years, 5 months ago

New Delhi, May 21(ANI): Shares of two listed aviation companies - InterGlobe Aviation and SpiceJet – rallied up to 10 per cent on the BSE on May 21 in early morning trade after the government on May 20 announced that domestic airline operations would resume on May 25, more than two months after all flights were halted. The stock of the country’s largest passenger airline InterGlobe Aviation, which operates its flights under the IndiGo brand, has rallied 10 per cent to Rs 1,002 in the opening deals. At 09:26 am, it was trading 7 per cent higher at Rs 975 on the BSE. The stock of the budget carrier SpiceJet was locked in the upper circuit of 5 per cent at Rs 42.95 on the BSE. Around a combined 181,000 shares changed hands on the counter and there were pending buy orders for around 7 million shares, the exchange data shows. An announcement which will offer some respite to the otherwise beleaguered sector (due to the outbreak of COVID-19), the Civil Aviation Ministry has said that the domestic flight will resume operations May 25th 2020 onwards in a calibrated manner.

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Airline stocks gain as air travel resumes from next week

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