Shares in Indian airlines jumped on expectations the government will soon allow foreign carriers to invest in local airlines, providing a lifeline to cash-starved and debt-laden carriers such as Kingfisher Airlines.
Foreign airlines are barred from investing in domestic ones, though overseas investors are allowed to hold a cumulative 49%.
Jet Airways rose more than 4%, while SpiceJet gained 4%.
Kingfisher was up 6.5%, continuing a period intense volatility in recent sessions as the carrier has been the subject of various takeover rumours, none of which has been officially confirmed.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app