Airlines shares fall over reports of new levy on some flights

The move is proposed to help raise money to fund air travel between India's smaller towns and cities at a subsidised cost

Shares of InterGlobe Aviation, Jet Airways and SpiceJet fell between 2 percent to 4 percent each over media reports that said the government would impose a new levy on some domestic flights.

The ministry of civil aviation has proposed the levy to help raise money to fund air travel between India's smaller towns and cities at a subsidised cost, according to the local media reports.

($1 = 67.0700 rupees)