Jet Airways soars on special fares announcement

Jet Airways has surged 9% over its previous close to Rs 505 levels, after the company announced special base fares in its Premiere class, which offer savings from 37 to 78 per cent on some of its domestic sectors between March 3 and 15.

The fares would range between Rs 8,671 and Rs 10,271 on various sectors, working out to savings of between Rs 5,915 and Rs 31,360, the private sector carrier in its press release.

The special fares (exclusive of all taxes and surcharge) are valid for sale and travel from March 3, 2010 onwards. While the sale validity expires on March 15, 2010, the travel validity extends up to April 30, 2010.

Post the announcement, the stock touched high of Rs 510 in intraday deals. As many as 961,000 shares have changed hands on the counter so far, as compared to an average 222,000 shares that were traded in last two weeks. Over the past two trading sessions, the stock has appreciated more than 25%.