Shares of airlines were down over 1% each after the Supreme Court ruled that air travellers should not pay transaction fee and that the aviation regulator should review the wide variation in air fares by airlines.
The Supreme Court directed the Directorate General of Civil Aviation to review 'fare bands' issued by airlines to make pricing more transparent for air travellers. The court also ruled that passengers should not pay a transaction fee till the civil aviation secretary takes a decision on the matter, according to a Economic Times report.
The directive from the apex court is on account of the significant difference in air fares published by airlines on their respective websites for the same route.
Jet Airways was down 1.1% at Rs 592.60, SpiceJet was down 3.1% at Rs 44.70 and Kingfisher Airlines was down 1.5% at Rs 13.65.
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