Airlines stocks trade weak; InterGlobe Aviation down 4%

InterGlobe Aviation, SpiceJet and Jet Airways were trading lower in the range of 1% to 4% on the BSE.

Shares of all three listed airlines companies InterGlobe Aviation, SpiceJet and Jet Airways were trading lower by up to 4% on the BSE after the air passenger traffic growth slows in the month of May.

Domestic air passenger traffic grew 16.53% to 11.86 million in May this year over the same period a year ago, according to data released by the Directorate General of Civil Aviation (DGCA) on Tuesday. The growth rate was lowest since September 2017, when airlines in India carried 9.58 million passengers, up 16.34% from last September.

Twelve domestic airlines together flew 11.85 million passengers