Aviation stocks like Jet Airways, Kingfisher Airlines and Spicejet are down 2% each after the crude oil prices edged higher. Currently, crude is trading at $97.7 per barrel.
Aviation turbine fuel which is directly linked to crude oil price constitutes nearly 50% of the airlines operating cost. The state owned oil firms had last revised their rates on 16 June by a 2.4% hike.
Among individual stocks, Jet Airways has slipped 2.2% to Rs 475, Kingfisher Airlines has lost 1.9% to RS 39 and Spicejet is down 2.3% to Rs 31.
