Shares of 3 airline firms rose 1.4% to 3.8% at 13:24 IST on BSE after media reports said that the government has approved the new civil aviation policy that seeks to ease rules for airlines to fly overseas and radically increase regional connectivity
SpiceJet was up 3.8% at Rs 66.60. Jet Airways (India) was up 1.4% at Rs 568. InterGlobe Aviation was up 2.8% at Rs 1,107.According to media reports, the Union Cabinet today, 15 June 2016, cleared the long awaited civil aviation policy. Reports said that the government has abolished the 5/20 rule for flying overseas. The rule allowed only carriers with 20 aircraft and five years of flying experience to provide international flights. Reports further said that the new policy provides incentives to airlines for flying to smaller cities and towns.
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