Aviation stocks bullish as Centre expects air travel to reach pre-Covid levels by 2020-end

The minister expects air travel to return pre-Covid levels by 2020-end or early next year.

Nov 17, 2020 01:11 IST India Infoline News Service

Civil Aviation Minister, Hardeep Singh Puri has said that air travel is expected to reach pre-Covid-19 level by end of this year. This led to a huge buying sentiment in aviation stocks namely Interglobe Aviation (Indigo) and SpiceJet on Tuesday's trading session.

Puri while addressing participants virtually at the ISB's Deccan Dialogue on Monday, stated that he is confident that by end of the year, by December 31 or soon thereafter, India's aviation sector will be back to pre-Covid levels.

The minister expects air travel to return pre-Covid levels by 2020-end or early next year.

He also highlighted that the sector needs to ensure the existing safety protocols are not only maintained but further strengthened in the coming days.

Last week, Puri increased domestic flights normal capacity to 70% from the previous 60%.

As of November 11, 2020, airlines have carried some 2,06,723 passengers with about 1,845 flights operational.

At around 1.41 pm, Indigo stock was trading at Rs1666.30 per piece up Rs53.80 or 3.34%. While SpiceJet was performing at Rs57.60 per piece surging by 4.07% on the index. 

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