All three listed airlines stocks— Jet Airways, SpiceJet and Kingfisher Airlines have rallied on the bourses after the state-owned oil marketing companies cut jet fuel or air turbine fuel (ATF) prices by 1.38% or Rs 833 per kilo litre (kl) effective from today.
“The latest cut is expected to reduce the burden on the industry, which has seen many airlines reporting losses owing to the high cost of jet fuel," reports suggest.
All these three major airlines have reported heavy second-quarter losses owing to high jet fuel and interest costs.
Among individual stocks,SpiceJet has rallied more than 6% to Rs 18.20, Jet Airways by 3% to Rs 225 and Kingfisher Airlines by 2% to Rs 23.20 in opening deals on the Bombay Stock Exchange.
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