Aviation stocks gain up to 4.5% as crude oil prices fall

Lower crude prices benefit firms as jet fuel constitutes over 40% of airline's operating costs

Aviation stocks, SpiceJet and Jet Airways, surged up to 4.5 per cent on Friday following slide in crude prices.

Shares of SpiceJet jumped 4.49 per cent to close at Rs 117.50 and Jet Airways rose by 2.01 per cent to Rs 533.55 on BSE.

The scrip of InterGlobe Aviation went up by 0.75 per cent to close at Rs 1,116.40.

SpiceJet also touched its 52-week high of Rs 121.85 in intra-day trade.

Oil hurtled down to a five-month low of $43.76 a barrel in New York on Friday.

Lower crude oil prices benefit aviation companies as jet fuel constitutes over 40 per cent of an airline's operating costs.