Airline stocks in major turbulence

The trouble at Jet Airways seems to be getting serious. Once again, the company has told its pilots, aircraft maintenance engineers and senior management team that part of their August salaries will be paid by Oct. 9. This comes on the back of its announcement on 6^th Sept, wherein it said that salaries on senior employees would be paid in two instalments till Nov.

This comes on the top of hike in import duty of aviation turbine fuel, which will prove to be a blow to airline earnings along with the falling rupee.

Not surprisingly, Jet Airways today hit a new low at Rs.181.25; Spicejet too hit a new low at Rs.66.70 and so did Indigo at Rs.818.55.