SpiceJet, IndiGo stocks gain as govt increases capacity of domestic flights to 60%

The change in capacity has already taken effect while the other terms and conditions prescribed by the ministry for domestic air travel remain the same, the ministry said.

Sep 03, 2020 09:09 IST India Infoline News Service

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Shares of SpiceJet and InterGlobe Aviation (IndiGo) gained in Thursday's morning trade on the stock exchanges. According to the Ministry of Civil Aviation, on Wednesday have permitted Indian airlines to increase the number of domestic passenger flights to 60% of their pre-Covid services.

Earlier on June 26, the Ministry of Civil Aviation had allowed the airlines to operate a maximum of 45% of their pre-COVID domestic flights.

The change in capacity has already taken effect while the other terms and conditions prescribed by the ministry for domestic air travel remain the same, the ministry said.

Shares of Interglobe Aviation gained for the fourth straight day and Spicejet was also up for the second straight day.

The decision was taken after a review of scheduled domestic operations viz-a-viz passenger demand for air travel, the ministry added.

Interglobe Aviation Ltd is currently trading at Rs1,280, up by Rs32.05 or 2.57% from its previous closing of Rs1,247.95 on the BSE.

SpiceJet Ltd is currently trading at Rs52.50, up by Rs1.65 or 3.24% from its previous closing of Rs50.85 on the BSE.

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