Lawstreet Journal

Share Prices of Airlines Rise as Government Raises Domestic Flight Capacity to 70%

Lawstreet Journal 20 Nov 2020 12:59am

Image courtesy: Lawstreet Journal Business Share Prices of Airlines Rise as Government Raises Domestic Flight Capacity to 70%

On November 12, 2020, the Ministry of Civil Aviation allowed domestic flights to operate with up to 70% capacity on the back of increasing demand during the festival season which helps in gaining airline stocks. 

The share price of InterGlobe Aviation hit a 52-week high rising up to 1.5% to Rs 1,644.90 per share on the National Stock Exchange while Spice Jet's share price increase as much as 5.5 % to Rs 57.10 apiece on the Bombay Stock Exchange. 

Even IndiGo shares were trading higher by 0.61% at Rs 1,629.45 while Spice Jet was trading 3.89 % higher at Rs 56.10 per share at 12 .42 p.m. 

Union Civil Aviation Minister Hardeep Singh Huda said that a total of 2.06 Lakh passengers have used the domestic air services since flight operations resumed.

The Ministry of Civil Aviation had introduced the earlier cap of 60% on September 2. On November 11, 2020, the earlier capacity was increased to 70%. This order modifies the earlier notification which has been made effective by the Ministry up till February 24, 2021. 

As the capacity of the airline has been enhanced all the rules which are put in place by the previous order will continue to prevent the spread of Covid-19. The Ministry of Civil Aviation has also released a guideline on who can travel out of or into India under the repatriation and travel bubble flights on their website. 

Airways is one of the important modes of transport which help in traveling from one place to another in the shortest… Continue Reading...

Tagged: Airlines  
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