Aviation Shares Fly High As Airlines Post Strong Passenger Data In January; Indigo, Spicejet Gain Up To 6%

Shares of Indian aviation companies flew high after the airlines posted strong passenger data in the month of January with stocks of InterGlobe Aviation, SpiceJet and Jet Airways (India) gaining up to 6%. The stock of SpiceJet saw the maximum jump in the morning trades with the stock rising over 5% after the national carrier posted a passenger load factor of 95% in January 2018 from 93.6% in the same month of 2017. The Indian aviation regulator Directorate General of Civil Aviation (DGCA) said the passenger carried by the domestic airlines advanced about 19.7% to 114.65 lakhs in January 2018 as compared to 95.79 lakhs in January 2017.

Following the development, the stock of SpiceJet spiked as much as 5.33% to a day’s high of Rs 149 on BSE followed by shares of other air carriers. Shares of other airlines which also surged on the back of stronger January passenger data include InterGlobe Aviation up 1.3%; Jet Airways (India) up 2.74%; Global Vectra Helicorp up 2.8%; TAAL Enterprises up 1.2%. The owner of Indigo, InterGlobe Aviation’s load factor was flat at 90%. Shares of InterGlobe Aviation rose as high as 1.96% to the day’s high of Rs 1,290 while the stock of Jet Airways (India) surged 2.74% to the day’s high of Rs 762.1 on BSE. Read More…

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