Airline stocks extend gain; IndiGo, Jet Airways, SpiceJet up 10% in 3 days

InterGlobe Aviation that runs IndiGo, Jet Airways (India) and SpiceJet were up in the range of 4% to 5% on the BSE. On comparison, the S&P BSE Sensex was up 1.8% at 34,625 points at 10:38 am.

Shares of all three listed airline companies were trading higher for the third straight session on the BSE after the government on Wednesday cut excise duty on jet fuel to 11% to give relief to the aviation industry and fall in the Brent crude oil prices by 5.6% in past two days.

On Friday, InterGlobe Aviation that runs IndiGo, Jet Airways (India) and SpiceJet were up in the range of 4% to 5% on the BSE. In comparison, the S&P BSE Sensex was up 1.8% at 34,625 points at 10:38 am. In the past three trading days, these stocks