The Finance Ministry is considering a proposal that includes the temporary suspension of most taxes levied on the sector, including a deferment of aviation fuel tax, said the sources, the media statement added.
Meanwhile, airlines may need a bailout of more than $200 billion, the International Air Transport Association (IATA) estimates. CAPA estimates that Indian airlines, excluding state carrier Air India, will report losses of up to $600 million for the January-March quarter, which could worsen if demand continues to fall.
SpiceJet Ltd is currently trading at Rs34.10, down by Rs3.75 or 9.91% from its previous closing of Rs37.85 on the BSE.
Interglobe Aviation Ltd is currently trading at Rs924.50, down by Rs27.75 or 2.91% from its previous closing of Rs952.25 on the BSE.