Three air carriers rose by 1.01% to 3.89% at 10:56 IST on BSE as crude oil prices tumbled for a seventh straight session on Thursday, 18 April 2013.
Jet Airways (India) (up 3.87%) and SpiceJet (up 1.01%), edged higher.
Kingfisher Airlines (KFA) was up 3.89% at Rs 6.95. KFA has been grounded since 1 October 2012 following unrest by employees and a subsequent disruption in its flight schedules. Its flying licence was suspended in December 2012, and the airline has two years to get it renewed.
The BSE Sensex was up 91.49 points, or 0.49% at 18,822.65.
US crude oil futures for May 2013 delivery were down 0.21%, or 0.19 cents at $86.55 a barrel in the electronic trading today, 18 April 2013.
Prices of aviation turbine fuel (ATF), which constitutes approximately 40% to 50% of operating expenses of Indian airlines, are directly linked to crude oil prices. State-run oil marketing companies -- Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation -- revise jet fuel prices on the 1st and 16th of every month based on the average international crude price in the preceding fortnight.
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