Shares of InterGlobe Aviation, parent of IndiGo, and SpiceJet rallied up to 14 per cent in early morning trade on Friday, surging up to 33 per cent in past two days on market share gain in the month of February.
Low-fare airline IndiGo’s domestic market share in the month of February increased to 43.4 per cent, from 42.5 per cent in January while budget carrier SpiceJet's market share rose to 13.7 per cent from 13.3 per cent in the previous month.
Domestic air passenger traffic rose 5.6 per cent in February, with the country's airlines carrying 11.35 million passengers in Februar, according to regulatory data.The passenger load factor in the month of February 2019 has shown increasing trend primarily due to airlines offering promotional fares resulting in increased demand, it said. CLICK HERE FOR RELEASE
Last month, Jet Airways had approved a Bank-led Provisional Resolution Plan (BLPRP), as received from the State Bank of India (SBI) proposing restructuring.
The BLPRP contemplates various options on the debt-equity mix and the proportion of equity infusion and the stakeholders are closely engaged to arrive at mutually acceptable solution, Jet Airways said in regulatory filing. The company also made a clarification on news report that "Etihad may exit Jet Airways by selling 24 per cent stake to SBI".