Aviation stocks plunge despite DGCA approves 12,983 weekly domestic flights for the winter schedule

DGCA approved 12,983 weekly domestic flights of airlines for the winter schedule which began from October 25, 2020, and will end on March 27, 2021.

Oct 26, 2020 12:10 IST India Infoline News Service

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Aviation stocks were trading on a negative note during Monday's session, tracking benchmark indices. The performance comes after the Directorate General of Civil Aviation (DGCA) announcement where the regulator has approved 12,983 weekly domestic flights of airlines for the winter schedule which began from October 25, 2020, and will end on March 27, 2021.

At around 12.25 pm, SpiceJet stock was trading at Rs51.60 per piece down 1.05% on Sensex. While Interglobe Aviation (Indigo) was trading at Rs1349 per piece below 1.67% on the same index.

DGCA has approved some 6,006 weekly domestic flights of Indigo which is the country's largest airline in terms of market share, for the winter schedule this year.

Meanwhile, DGCA approved 1,957 and 1,203 weekly domestic flights for SpiceJet and GoAir respectively.

Last year, the regulator had approved 23,307 weekly domestic flights during the winter schedule.

However, in this year's winter schedule, only 55.7% (12,983 flights) was approved of the total flights approved last year. 

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