Shares of two aviation companies rose 0.22% to 1.17% after data showed that domestic air passenger traffic jumped 11.2% in November 2019.
Meanwhile, the BSE S&P Sensex rose 311.63 point or 0.77% to 40,893.34.
Spicejet rose 1.17% to Rs 103.70 while InterGlobe Aviation advanced 0.22% to Rs 1341.
The air passenger traffic of domestic airlines has increased at 11-month high pace and double digit pace of 11.2% to 129.47 lakh in November 2019 over 116.45 lakh in November 2018. The growth of domestic air passenger traffic has moved in to double digits after a period of 10 months.
InterGlobe Aviation (Indigo) posted strong 22.9% growth in the passenger traffic to 61.51 lakh, while gaining market share to 47.5% in November 2019 from 43.0% in November 2018.
Spice Jet posted 43% growth in the passenger traffic to 20.80 lakh, while its market share rose to 16.1% in November 2019 from 12.5% in November 2018.
The passenger traffic of state-run Air India rose by 10.4% to 15.65 lakh and that of Go Air increased 39.5% to 14.22 lakh. Further, the passenger traffic of Air Asia jumped 42.1% to 8.78 lakh, Vistara 83.1% to 7.60 lakh and Trujet 52.8% to 0.81 lakh.
The cumulative air passenger traffic increased 3.9% to 1311.54 lakh in January-November 2019 over 1262.82 lakh in January-November 2018.
The airline wise seat load factor was Spice Jet at 92.8%, Go Air 92.7%, Indigo 91.4%, Air Heritage 88.2%, Air Asia 87.2%, Vistara 84.1%, Air India 83.0%, Trujet 78.4%, Star Air 73.0% and Air Deccan 27.7% in November 2019.
Fuel consumption figures released this week indicated that India's aviation turbine fuel (ATF) consumption rose by 5.4% to 0.72 million tones in November 2019 as compared to the corresponding period last year.
Meanwhile, the Union Cabinet, chaired by the Prime Minister Narendra Modi, on Wednesday approved introduction of the Aircraft (Amendment) Bill, 2019 for carrying out the amendments to the Aircraft Act, 1934 (XXII of 1934).
The Bill enhances the maximum limit of fine from the existing Rs. 10 lakhs to Rs. 1 crore. It also enlarges the scope of the existing Act to include regulation of all areas of Air Navigation. The amendments would fulfil the requirements of International Civil Aviation Organisation (ICAO).
This will enable the three regulatory bodies in the Civil Aviation sector in India, namely Directorate General of Civil Aviation, Bureau of Civil Aviation Security and Aircraft Accident Investigation Bureau to become more effective, which will lead to enhancement in the level of safety and security of aircraft operations in the country.
Further, the government has decided to sell its entire 100% stake in Air India under the proposed disinvestment process, the Union minister of state for civil aviation, Hardeep Singh Puri said in a written reply to the Lok Sabha on Thursday.
The national carrier, which has a debt burden of more than Rs 50,000 crore, has been making loss for long and as part of revival efforts, the government has decided on disinvestment.
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