Aviation Shares Soar As Domestic Flight Operations Raised To 60%

The Centre started the flight operations in a calibrated manner, beginning with 30 per cent on May 25 and progressively increasing it to 60 per cent as of date

Aviation Shares Soar As Domestic Flight Operations Raised To 60%

The Centre had re-started domestic flight operations on May 25 after a gap of two months.

Aviation shares are in the limelight, in a flat market, after the Civil aviation ministry raised the domestic flight operations to 60 per cent. At 9:25 am, Interglobe Aviation had soared 3.2 per cent to Rs 1,288.55 and Spicejet had strengthened by 3.5 per cent to Rs 52.65 on the BSE.

"... 45 per cent capacity may be read as 60 per cent capacity. This order shall take effect from the date of issue of this order. The other terms and conditions shall remain the same," the ministry said in an order on Wednesday.

The Centre had re-started domestic flight operations on May 25 after a gap of two months. It started the flight operations in a calibrated manner, beginning with 30 per cent on May 25 and progressively increasing it to 60 per cent as of date, with the objective of ensuring social distancing to curb the spread of Covid19.

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The BSE Sensex was up 24 points at 39,109 and NSE Nifty had added 18 points at 11,551.25 at the time.