Hard landing for aviation stocks after hike in ATF price

Image
Press Trust of India Mumbai
Last Updated : Mar 02 2015 | 5:48 PM IST
Aviation stocks witnessed huge selling pressure today and ended with over 3 per cent losses after jet fuel price was hiked by a steep 8.2 per cent.
Shares of Jet Airways settled 3.30 per cent lower at Rs 427.75 on the BSE. During the day, it slumped 5.27 per cent to Rs 419.
SpiceJet was down 3.04 per cent to close the day at Rs 22.35. In intra-day, it dipped 5.42 per cent to Rs 21.80.
The price of aviation turbine fuel (ATF) in Delhi was yesterday hiked by Rs 3,849.97 per kilolitre, or 8.2 per cent, to Rs 50,363 per kilolitre.
Jet fuel constitutes over 40 per cent of an airline's operating costs and the price increase will raise the financial burden of cash-strapped carriers.
Meanwhile, in the broader market, the BSE Sensex ended 97.64 points higher at 29,459.14.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Mar 02 2015 | 5:48 PM IST

Next Story