Airlines gain after IOC cuts jet fuel price

Jet Airways (India) gains 3.3 percent, SpiceJet up 3.9 percent.

Indian Oil Corp cuts jet fuel price by an average of nearly 3 percent across cities in India. (bit.ly/1yyCDkO)

Jet fuel traditionally marks nearly a third of an airline's operational cost.

(Reporting by Abhishek Vishnoi)