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Shares to aviation companies – Jet Airways (India) and SpiceJet have gained up to 4% in today’s trade on the BSE after Jet fuel prices have been cut by a steep 11.3 per centon Sunday bringing further relief to domestic airlines.
In January, jet fuel price was slashed by 12.5 per cent and between October and December last year, prices declined 11 per cent.
Jet fuel constitutes over 40% of an airline's operating cost and the reduction in prices will ease the burden of the cash-strapped airlines.
Among the individual stocks, SpiceJet has soared nearly 4% to Rs 23, while Jet Airways (India) has surged 4% to Rs 534 on the BSE.
