 "Media reports suggest the government could allow airline companies to resume operation of local passenger flights by May 18")
Aviation stocks InterGlobe Aviation and SpiceJet surged up to 5 per cent on the BSE on Tuesday, in an otherwise weak market, amid reports that the goverment could soon resume domestic flight operations in India. Additionally, reports suggest InterGlobe Enterprises, the parent of the country’s largest airline IndiGo, has evinced interest in Virgin Australia, Australia’s second-largest aviation company.
Shares of SpiceJet zoomed 5 per cent to Rs 42.95 on the BSE in the intra-day deals. A combined 3.72 million shares have changed hands on the counter on the NSE and BSE so far.
InterGlobe Aviation's stock price, meanwhile, hit a high of Rs 991.85, up 3.17 per cent on the BSE, but pared gains later to trade 1.25 per cent higher at Rs 973.4 apiece by 9:49 am. A combined 1.14 million shares have changed hands on the counter on the NSE and BSE till the time of writing of this report.
Shares of SpiceJet zoomed 5 per cent to Rs 42.95 on the BSE in the intra-day deals. A combined 3.72 million shares have changed hands on the counter on the NSE and BSE so far.
InterGlobe Aviation's stock price, meanwhile, hit a high of Rs 991.85, up 3.17 per cent on the BSE, but pared gains later to trade 1.25 per cent higher at Rs 973.4 apiece by 9:49 am. A combined 1.14 million shares have changed hands on the counter on the NSE and BSE till the time of writing of this report.
Media reports suggest the government could allow airline companies to resume operation of local passenger flights by May 18. "Permission to operate international flights will take longer, given that issues of logistics and security and safety as well as health are bigger and more sensitive there," said a report by business daily Mint.
