Aviation stocks flying high but crude oil prices may be a dampener

IndiGo hits a lifetime high on expectations of recovery, market share gains

Aviation stocks were major gainers on Friday, with market leader InterGlobe Aviation (IndiGo) moving up over 11 per cent to its all-time high levels and SpiceJet gaining about 3.4 per cent. These gains came on the back of a 34 per cent increase in passenger traffic in August over the volumes in July. The Street is also bullish about strong passenger load factors and plans by the two listed entities to expand their network in the domestic market. What may help sustain the rally is the civil aviation ministry's order revising the capacity to 85 per cent of pre-Covid domestic