Aviation stocks take off

Shares of three aviation companies rose by 4.96% to 9.53% at 15:00 IST on BSE after data showed that passenger growth jumped 18.59% in January-March 2017 over January-March 2016.

SpiceJet (up 9.53%), Jet Airways (India) (up 5.66%) and InterGlobe Aviation (up 4.96%), edged higher.

Meanwhile, the S&P BSE Sensex was up 50.35 points, or 0.17% at 29,386.92.

Domestic airlines carried 272.79 lakh passengers in January-March 2017 quarter, a growth of 18.59% compared with 230.03 lakh passengers carried in January-March 2016 quarter.

Domestic airlines carried 90.45 lakh passengers in March 2017, a growth of 14.91% compared with 78.72 lakh passengers carried in March 2016.

 

InterGlobe Aviation dominated other aviation companies in terms of market share at 39.90% in March 2017, followed by Jet Airways (17.90%), SpiceJet (13.20%) and Air India (13%).

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